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Insignis On Bloomberg

by Insignis in News

Paul Richards, a former executive at Bank of America Corp., is the latest senior ex-banker to start a financial technology company, with a focus on cash savings for wealthy clients.

A series of former senior bankers … are starting financial technology companies seeking to revolutionize the traditional banking industry, using decades of experience to carve fresh niches in everything from foreign-exchange trading to consumer payments. Their presence helps add weight to startups that might otherwise make little impact amid a glut of tiny firms.

Richards, who retired from the U.S. company in 2014 after almost three decades, has opened Insignis Asset Management, a cash management company that collates multiple bank accounts for high-net-worth customers, according to a statement on Monday. The former co-head of Europe, Middle East and Africa corporate banking and debt capital markets at Bank of America, is chairman of the new Cambridge, England-based firm. Giles Hutson, who previously worked under him at the investment bank, is chief executive officer.

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Press Contacts

Sally Maclachlan
sally.maclachlan@insignisam.com
01223 200 674

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@InsignisCash

We can help you manage your cash to get the best rates. Investors turn to cash as UK assets see fall in popularity - t.co/x6Hn7bF1nb

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@InsignisCash

Number of savings accounts hit a 5 year high @MoneyfactsNews according to the Savings Trends Treasury Report

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@InsignisCash

Time to stop the rot on savings. Getting better interest rates matter in the long run and help to mitigate inflatio… t.co/6YwrvsI5ZL

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