Fintech
Stripe product chief becomes CEO of Bank of America as bankers depart for fintech
Despite the uncertainty in the job market, some bank employees are making decisions fintech is the best solution. Amidst a number of senior staff leaving for fintech, however, a product in the lead Band he went the other way.
Click here to subscribe to our fintech newsletter 🤖
Delia Pawelke joined Bank of America last week, as a doctor of payments and US banking risk in New York. He has spent the last seven years at Stripe, starting in compliance before becoming product manager risk. This marks Pawelke’s return to banking, after previously spending five years at JPMorgan.
Not everyone who returns to banking from fintech stays there. Shinnell Moriah left Wells Fargo, where she was vice president, for Brex in 2021. After becoming chief compliance officer of its asset management division, she left for Goldman Sachs last August. Now, just nine months later, Moriah is back in the world of fintech after joining Wise in New York as US Asset Compliance Officer.
Some people leaving banks for fintech are doing so for the first time. Alastair Nolan has spent the last 12 years at Morgan Stanley in London, where he joined when he graduated, but has just joined SumUp in Dublin as CFO for Europe. Nolan, however, is not entirely green in the world of fintech: he has been a fintech equity analyst for the bank since 2020.
Leaving for fintech in 2024 is no longer as flashy a move as in the past, but it has its advantages. Stripe banking alumni praised the significant pace of personal development. Pawelke described his time there as “the most formative period of my professional life”. ✨
The benefits in fintech are not uniform. Wise’s CTO called senior fintech roles “intense,” but positive for development. At SumUp meanwhile, Glassdoor reviews in 2024 said “it’s all about being flexible.” 🤔
Do you have a confidential story, tip or comment you’d like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Telegram: @SarahButcher. Click here to fill out our anonymous formor email editortips@efinancialcareers.com. Signal also available.
Please bear with us if you leave a comment at the bottom of this article: all our comments are moderated by humans. Sometimes these humans may be sleeping or away from their desks, so it may take a while for your comment to appear. Eventually it will, unless it is offensive or defamatory (in which case it won’t).