Railsr appoints all new executive team
Embedded finance platform Railsr has appointed Philippe Morel as chief executive, Debbie Lotz as chief financial officer and Nick Charteris to the role of chief operating officer.
The appointments come after Railsr staved off collapse last month after its assets were acquired by an investor consortium for an unknown sum.
The Financial Conduct Authority sanctioned the sale of Railsr to Embedded Finance Limited, which is backed by D Squared Capital, Moneta VC and Ventura Capital.
The business Railsbank Technology Limited will go into administration with its assets transferred to Embedded Finance Limited.
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Railsr said the re-capitalisation would ensure “business continuity” for its customers. London-headquartered Railsr provides banking, cards, credit and reward services through its embedded finance platform.
“This is a pivotal moment for Railsr and we are starting a new phase on the front foot,” said Railsr chairman Rick Haythornthwaite.
“This triumvirate of executive appointments bring deep experience and renewed energy to rebuild momentum, drive change and return Railsr to growth. Together, we will tackle challenges constructively and methodically embrace opportunities to stabilise the business, strengthen market confidence and grow competitive advantage.”
New chief executive Morel previously held the same position at SETL for four years, until its acquisition in early 2023. Before that he was global head of Boston Consulting Group’s capital markets practice, EMEA leader for BCG Private Equity and Principal Investors Practice, and chairman of Expand.
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He has more than 25 years’ experience in financial services, advising corporates and financial institutions on their strategies, organisation and change management.
“Philippe brings a potent combination of turnaround experience, strategic consulting and operational leadership, a set of skills which will lead the Railsr team and customers to success. I look forward to partnering closely with him in the coming months,” said Haythornthwaite.
Lotz has recently relocated from Australia to the UK and is a chartered accountant with more than 25 years’ experience in global banking. She most recently headed up data risk governance at the National Australia Bank. She has also held roles at the Commonwealth Bank, Royal Bank of Scotland and Dresdner Kleinwort Wasserstein.
Charteris rejoins Railsr having spent the past 12 months as general manager of Crypto.com in the UK. He previously held the role of global head of operations.
Read more: Railsbank rebrands to Railsr as it focuses on embedded finance
