RTGS.global co-founder Nick Ogden resigns
RTGS.global, a UK-based fintech specialising in cross-border settlement, has lost its second co-founder, Nick Ogden, only two months after the departure of Andrew Smith.
RTGS.global co-founder resigns
Ogden and Smith founded the company with current advisor Gordon Cooper in 2019, with Ogden serving as director and Smith joining him as CTO.
The fintech offers a settlement solution that enables commercial banks, central banks and regulators to perform gross settlement for cross-border transactions in real time.
Smith announced his exit from RTGS.global in the summer, stating via LinkedIn: “As the company moves in a new direction…it is inevitable that those behind the vision no longer are a good fit.”
Ogden appears to have now followed in his peer’s footsteps. “Following the resignation of my co-founder friend Andrew Smith I have also resigned from RTGS.global,” he writes on LinkedIn.
His statement says the decision has left him to focus on “delivering true inter-bank liquidity systems”, which he plans to bolster with AI to “dynamically manage liquidity pools in real-time”.
When contacted by FinTech Futures, Ogden confirms that he is now “working on a new opportunity” and writing a book.
‘Heading for troubles’
Discussing his co-founder’s resignation, Smith tells FinTech Futures that the pair “had a vision of what we wanted to achieve with RTGS.global”, but that over the course of the last 18 months, “this wasn’t the direction the investors and board wanted to go”.
The fintech’s board currently consists of former HSBC chief Marcus Treacher as executive chairman, with Ruth Wandhöfer, Phil Kenworthy, and former Citi CEO Jim Cowles serving as directors, according to its website.
Treacher ascended to the position in conjunction with Jarrad Hubble’s appointment to CEO in May last year. Hubble replaced Dave Sissens, who was initially hired for the position in 2021.
“I think when you have a founders vision no longer being the vision of the company, then you’re heading for troubles,” Smith continues. “I didn’t agree with the new direction of the company, the tactics or strategy. It was very much the right time to leave.”
He confirms that he and Ogden, who previously founded ClearBank together in 2016, are “now working on new things”, with the project currently in stealth mode.
RTGS.global was contacted by FinTech Futures for comment.
