(AOF) – Standard Chartered continues to strengthen its European institutional client relations team, with the recruitment of Raffaele De Vitis, who joins the bank as Head of Banking (Banks and Broker Dealers – BBD) for the Europe. Raffaele De Vitis reports to Caroline Eber-Ittel, CEO of the Paris branch of Standard Chartered Bank AG, and responsible for client coverage in Continental Europe within the bank’s Corporate, Commercial and Institutional Banking activity.
He has a wealth of experience and a 24-year career in senior investment banking positions in the areas of corporate finance, capital markets and customer relationship management for banks and European public sector entities. He brings deep knowledge of international capital markets and an extensive network of relationships in Europe, the Middle East and Africa.
Before joining Standard Chartered, Raffaele De Vitis held several senior positions at Crédit Agricole and Mizuho Securities. His last position was as Managing Director, Financial Institutions, Global Coverage and Investment Banking at Crédit Agricole, where he was responsible for a large portfolio of large banks, public sector entities and financial market infrastructures in France, in BeNeLux and Israel.
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Despite the turbulence, fintechs stay the course
According to BCG, in mid-2021, all listed fintechs in the world were valued on average twenty times their revenues, or a valuation of around $1.3 trillion. This figure had multiplied by more than four in three years. At the end of 2022, this multiple was divided by five, with average valuations limited to four times revenue. Nevertheless, BCG considers that the sector should record a jump in growth by 2030, with a six-fold increase in revenues for fintechs. After payments, development should mainly come from fintech banking, with the rise of turnkey services for businesses and professionals (“banking-as-a-service”).