Press release

Jean-Pierre Mustier will join the Banking Circle Group’s Advisory Board

London, 25th June 2024 – Banking Circle Group is pleased to strengthen its Advisory Board with the addition of Jean-Pierre Mustier. Jean-Pierre has over 30 years of banking and financial services experience, including previous roles as Chief Executive Officer of UniCredit and President of the European Banking Federation.

Jean-Pierre will collaborate closely with Chairperson Jim Snabe, Banking Circle Group CEO & Co-founder Anders la Cour, and the majority shareholder EQT VIII, to continue the rapid and profitable growth of Banking Circle Group.

Jim Snabe, Chairperson of Banking Circle Group’s Advisory Board, commented: “We extend a warm welcome to Jean-Pierre Mustier. His extensive experience and network will be extremely valuable as we move to the next phase of our global expansion.”

Anders la Cour, Co-Founder & Group CEO of Banking Circle Group, added: “We have had the privilege of attracting large clients from the very outset and have grown revenues in the triple digits for a long time, today reaching a current run-rate revenue of around EUR 400m with attractive profitability. With the addition of the new US license, Banking Circle Group will now also be able to capture even more customers and provide additional value to our existing ones. We look forward to working with Jean-Pierre Mustier as we continue this exciting journey”.

Mads Ditlevsen, Responsible Partner at EQT, added: “We are delighted to welcome Jean-Pierre Mustier to the advisory board of Banking Circle Group. Since EQT’s investment six years ago, our revenues have grown significantly. With the strong organization and capable board we have in place, we are confident this growth trajectory will continue”.

Jean-Pierre Mustier concluded: “I have followed Banking Circle Group for many years, and I am delighted to join the Advisory Board at such an exciting moment for the company. The new US banking license creates significant opportunities for the business, and I look forward to working closely with Jim Snabe and Anders la Cour to propel the Group forward during its next phase of expansion and value creation.”

Banking Circle Group has recently reached a significant milestone by receiving a US banking license in July 2023 as a Connecticut state-chartered commercial bank. With this achievement Banking Circle Group now has full banking licenses in regions covering more than 80% of the global payments market, including euro, pound, and dollar.