One of the most senior executives at Germany’s top challenger bank N26 is leaving the fintech after two years.

Jan Stechele, N26’s managing director and chief regulatory officer, is exiting the challenger bank in September this year.

Stechele is one of the challenger bank’s top leaders and is part of the senior leadership at N26, one of Germany’s most high-profile fintechs.

His departure was announced by Valentin Stalf, N26 CEO and co-founder.

Stechele’s role will be subsumed into the job of Carina Kozole, N26’s chief risk officer.

In June this year, BaFin, the German finance regulator, lifted restrictions on the German bank adding new customers.

It was previously limited to 50,000 client sign ups a month.

Stalf said that Stechele and his teams had “played a crucial role in bringing compliance, risk management and AML to a new level at N26”.

Founded in 2013, N26 last publicly raised in 2021, raising $900 million Series E round at a $9 billion valuation.

Third Point Ventures and Coatue Management led the round in the Berlin-based fintech.