Exclusive: LCG sees Revenues drop 86% in 2021, posts £1.7M loss
At the end of 2022 LCG brought in a new management team to run the company, led by new CEO Dave Worsfold.
FlowBank is an online banking and trading firm, located in Geneva, Switzerland. The company was founded by former London Capital Group (LCG) controlling shareholder and CEO Charles-Henri Sabet in 2020, backed by a number of his former LCG colleagues and several former executives from Swissquote.
Licensed as a Swiss Bank, FlowBank offers both online banking services as well as trading in a variety of domestic and international stocks, ETFs, forex pairs, CFDs, bonds, options, futures, as well as cryptocurrencies.
FlowBank selected the Temenos Transact SaaS online banking and trading platform as the technology basis for its Swiss digital bank. Temenos Transact will allow Flowbank’s customers to trade from a single multi-currency bank account and access more than 50 financial markets.
At the end of 2022 LCG brought in a new management team to run the company, led by new CEO Dave Worsfold.
Adrien Cohen has joined FlowBank management as COO. Caroline Puder-Lévy has been appointed CMO.
CoinShares reported combined revenue, gains and other income of £27.96 million for Q1 2022, down from £39.91 million in Q1 2021.
Following approval from the Swiss FINMA, Coinshares has acquired an additional 20.8% stake in Swiss-based FlowBank.
Total comprehensive income of CoinShares the first nine months of 2021 amounted to £84.9 million, compared to £18.4 million for FY 2020.
FlowBank has stated that its mission starts within Switzerland’s borders, but the business has international ambitions.
As CIO Esty Dwek will be responsible for the investment strategy of FlowBank, and lead its team of analysts.
FlowBank allows investors and traders worldwide to access a broad range of asset classes via a unique multi-currency bank account.
FlowBank also said that it will introduce fractional shares trading – a first in the Swiss online broker market.
Temenos Transact will allow Flowbank’s customers to trade from a single multi-currency account and access more than 50 financial markets.