Charlotte Crosswell, the CEO of Innovate Finance, has announced she will step down from her position on May 1, 2021. Janine Hirt, Innovate Finance’s Chief Operating Officer will become interim CEO at that time.
Crosswell has led the Fintech advocacy group since 2017 playing a key role in the growth of Fintech in the UK. The UK has long been viewed as the top Fintech hub in the world due to an entrepreneurial population and a regulatory environment that was more conducive to innovation in financial services. In recent years the Fintech industry has been challenged by the UK’s separation from Europe and the migration of some aspects of financial services to continental Europe. Additionally, some policymakers have cooled on areas of Fintech thus slowing sector growth. Under Crosswell’s leadership, Innovate Finance has championed the digital transformation of financial services by both early-stage ventures and traditional firms.
The recently published Kalifa Review, a document advocating support for the UK Fintech industry, was supported by Innovate Finance’s contribution as co-Secretariat for the project.
Crosswell issued the following comment on her departure:
“After nearly four years as CEO of Innovate Finance, the time has come for me to step aside. It has been a privilege to lead the UK’s Fintech industry body through a period of tremendous growth, which has seen our members scale globally and the sector cement its position as a world leader. I have thoroughly enjoyed working with all our members, the government, regulators and the wider global ecosystem, to champion the innovation taking place in our financial services sector and lift the profile of Innovate Finance to be the voice of UK Fintech. The recommendations of the recently published Kalifa Review herald the start of an exciting period of growth for both UK Fintech and Innovate Finance. The strategy defined in the review will accelerate significant opportunities to move the sector forwards as the industry matures. With the Kalifa Review complete and the increased profile of the Fintech sector and our members, it feels the right time to hand over the reins. Fintech and Innovate Finance have a significant role to play in the next phase of our financial services innovation, and I am looking forward to staying close to the sector.”
Natalie Ceeney, Chair of Innovate Finance, said that Crosswell has done a truly incredible job for the last four years as CEO.
“The UK remains the best place to start and grow a FinTech company and the sector has a significant role to play in the future of financial services. Charlotte leaves Innovate Finance extremely well placed to support our members, to advocate for the sector and the role it can play in the UK’s economic recovery. I wish Charlotte all the very best for the future.”