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Gerd Schenkel

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Gerd Schenkel
Born
Germany
NationalityAustralian/German
Children2
Websitehttp://www.gerdschenkel.com

Gerd Schenkel is an Australian-German businessperson. [1] He is the founder of UBank, [2][3][4] former Chair [5] of Credit Clear (ASX.CCR),[6] a former non-executive Director of Helia (ASX.HLI), [7] [8] and Senior Adviser at Kearney, a global consultancy. [9]

Education

[edit]

Schenkel has a master's degree in Engineering and an MBA from the Columbia Business School in New York.[9][10] He is the co-author of several scientific articles in the field of robotics.[11] [12]

Career

[edit]

In 2008, Schenkel launched UBank, the direct bank of National Australia Bank which has grown its balance sheet to approximately $20b.[13][14][15] Before launching UBank, Schenkel was general manager of NAB's CRM system.[16] Prior to that, Schenkel worked for The Boston Consulting Group.[17]

Until June 2017, he was the CEO of Tyro Payments, an Australian EFTPOS services company, aiming to "disrupt" the incumbent banks.[18][19][20][21] In December 2019, Tyro Payments listed on the Australian Stock Exchange.[22] As of 15 July 2020, the company's market capitalisation was approximately A$1.85b [23]

On 13 June 2017 Tyro announced that Gerd Schenkel had resigned because he wanted to "pursue other business opportunities and spend more time with his family".[24] The Australian Financial Review reported that Schenkel was pursuing "a new banking venture”.[25] Schenkel is the Managing Director of consultancy "BGA Digital".[26]

Prior to Tyro, Gerd Schenkel was the founder and Executive Director of Telstra Digital, the digital division of one of Australia's largest corporations.[27][28][29][30][31] At Telstra, he led the launch of Belong, Telstra's low cost broadband business which as of June 2017 had over 150,000 customers.[32][33]

A regular contributor to the Australian business community,[34][26] in November 2017 was appointed to the Federal Treasurer's Small Business Digitisation Taskforce,[35] which led to the federal Government to provide $37.3 million (over four years from 2018) to support small business' adoption of digital tools and methods.[36][34]

In December 2018, Gerd was appointed chairman of Australian FinTech Credit Clear.[37]

In October 2020, Credit Clear listed on the Australian Stock Exchange via an initial public offering under the ticker symbol CCR.[38][39][40][41]

In December 2021, Schenkel was appointed to the Board of Helia (formerly Genworth), an ASX listed insurer.[42]

In 2021, Credit Clear announced that it acquired ARMA, a debt collections services business to grow its revenue at a cost of $45m.[43]

In 2021, Schenkel was reported to be part of a "consortium" wanting to acquire ME Bank,[44] but ME Bank was ultimately acquired by Bank of Queensland.[45]

Since 2010, Schenkel has been providing independent consulting services to global organisations. [46] [47]

Personal

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Gerd was married and has two daughters, Faedra and Lillie.[48]

References

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  1. ^ "Fintech revolution hype: Tyro". 30 October 2016.
  2. ^ "NAB unveils UBank". Nab.com.au. Archived from the original on 12 September 2016. Retrieved 22 October 2016.
  3. ^ "Financial results". Nab.com.au. Retrieved 22 October 2016.
  4. ^ McIntyre, Paul (22 April 2009). "NAB goes online to reach people allergic to banks". Smh.com.au. Retrieved 22 October 2016.
  5. ^ "Credit Clear gains new chairman, completes final capital raising stage of ARMA acquisition". 24 February 2022.
  6. ^ The Australian
  7. ^ Report Genworth [dead link‍]
  8. ^ https://www.tipranks.com/news/company-announcements/genworth-announces-departure-of-director-schenkel
  9. ^ a b "PwC partner heads to KPMG, BCG consultant moves to rival". 18 March 2021.
  10. ^ "Gerd Schenkel joins Jost Stollmann as Tyro's new CEO to build the nextGen Bank - Tyro Payment". Tyro.com. Retrieved 22 October 2016.
  11. ^ "Google Scholar". scholar.google.com.au.
  12. ^ https://www.semanticscholar.org/paper/Passivity-of-a-class-of-sampled-data-systems%3A-to-Colgate-Schenkel/4b5cf0938151c0b402eb027ffad2392f5e8d48a7?utm_source=direct_link
  13. ^ "NAB unveils UBank". Nab.com.au. Archived from the original on 12 September 2016. Retrieved 22 October 2016.
  14. ^ "Financial results". Nab.com.au. Retrieved 22 October 2016.
  15. ^ McIntyre, Paul (22 April 2009). "NAB goes online to reach people allergic to banks". Smh.com.au. Retrieved 22 October 2016.
  16. ^ "East & Partners | Executive Interview – Gerd Schenkel – General Manager, Customer Strategy & Cross Marketing, NAB". Archived from the original on 30 May 2015.
  17. ^ Pash, Chris (19 October 2016). "Major Australian fintech Tyro just hired the UBank founder as its CEO". Archived from the original on 21 August 2017. Retrieved 21 August 2017.
  18. ^ "Tyro turns to Gerd Schenkel as new CEO to disrupt the banks". Afr.com. 19 October 2016. Retrieved 22 October 2016.
  19. ^ "UBank Founder Gerd Schenkel Takes Helm at Tyro". The Australian. Retrieved 22 October 2016.
  20. ^ "Former Telstra digital chief takes CEO spot at fintech player Tyro". Cio.com.au. Archived from the original on 22 October 2016. Retrieved 22 October 2016.
  21. ^ "Tyro Payments brings in Aussie banking tech veteran - IBS Intelligence". Ibsintelligence.com. 20 October 2016. Archived from the original on 22 October 2016. Retrieved 22 October 2016.
  22. ^ "Tyro IPO price fixed at $2.75, top of the range". 2 December 2019.
  23. ^ "TYR share price and company information for ASX:TYR". Australian Securities Exchange. Retrieved 24 November 2022.
  24. ^ "Tyro Chief Executive Officer Gerd Schenkel Resigns". Tyro. Retrieved 24 November 2022.
  25. ^ "Departing Tyro chief Gerd Schenkel cites growth challenges and eyes new venture". 14 June 2017.
  26. ^ a b "Access to capital only the start for early-stage businesses". 30 October 2017.
  27. ^ "Telstra calls on Master of Robotics to rewire its malfunctioning internet home page". The Australian. Retrieved 22 October 2016.
  28. ^ "Telstra to expand online service and add more than 100 new stores". Telstra.com.au. 21 February 2011. Archived from the original on 22 October 2016. Retrieved 22 October 2016.
  29. ^ Kimmorley, Sarah (19 May 2015). "Telstra's Digital boss has a message for everyone who thinks they can mess up in business: 'Failure is not OK'". Businessinsider.com.au. Archived from the original on 3 July 2016. Retrieved 22 October 2016.
  30. ^ "Telstra - Telstra's Digital Story". Telstra.com.au. Archived from the original on 7 October 2016. Retrieved 22 October 2016.
  31. ^ Battersby, Lucy (20 February 2011). "Telstra wants to get more customers online". Smh.com.au. Retrieved 22 October 2016.
  32. ^ "Archived copy" (PDF). Archived from the original (PDF) on 17 August 2017. Retrieved 17 August 2017.{{cite web}}: CS1 maint: archived copy as title (link)
  33. ^ "Telstra gives subsidiary internet provider Belong a push along". 11 June 2014.
  34. ^ a b "Lessons from forced CEO exits". 19 May 2021.
  35. ^ Pash, Chris (20 November 2017). "Mark Bouris will head the Turnbull government's small business taskforce on going digital". Archived from the original on 20 November 2017. Retrieved 20 November 2017.
  36. ^ "Budget Archive" (PDF). Archived from the original (PDF) on 17 December 2018. Retrieved 17 December 2018.
  37. ^ "Gerd Schenkel joins Credit Clear as Chairman". Gerd Schenkel joins Credit Clear as Chairman. Archived from the original on 6 April 2023. Retrieved 24 November 2022.
  38. ^ "Search". Australian Securities Exchange. Retrieved 24 November 2022.
  39. ^ "Upcoming floats and listings". Australian Securities Exchange. Retrieved 24 November 2022.
  40. ^ "IPO watch: roadshows galore, window wide open". 25 October 2020.
  41. ^ "The Credit Clear (ASX:CCR) share price has rocketed 133% since its IPO this week". 29 October 2020.
  42. ^ "GMA.AU Company Profile & Executives - Genworth Mortgage Insurance Australia Ltd. - Wall Street Journal". Archived from the original on 4 December 2021. Retrieved 4 December 2021.
  43. ^ "Credit Clear raising $29.5m to acquire debt recovery biz ARMA Group". 13 December 2021.
  44. ^ "Subscribe to the Australian | Newspaper home delivery, website, iPad, iPhone & Android apps".
  45. ^ "ME Bank closing in on deal with Bank of Queensland, shareholders told". 18 February 2021.
  46. ^ https://umbrex.com/consultants/gerd-schenkel/
  47. ^ https://www.linkedin.com/posts/gerdschenkel_today-marks-my-last-day-as-non-executive-activity-7190696229104689152-nw_S
  48. ^ Gerd Schenkel Archived 6 April 2023 at the Wayback Machine. exchange.telstra.com.au
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