N26 Appoints UBS Executive Mike Dargan as CEO as Co-Founder Tayenthal Steps Down
N26 announced on 16 December 2025 — the day after BaFin announced fresh sanctions — that Mike Dargan would become the neobank’s new CEO, effective April 2026, pending BaFin regulatory approval of the appointment.
Simultaneously, co-founder and Co-CEO Maximilian Tayenthal announced he would step back from all operational roles effective 31 December 2025, ending N26’s founding-team leadership era after twelve years.
Who Is Mike Dargan?
Mike Dargan is an experienced technology and transformation executive from traditional banking:
- Most recently served as a member of the Group Executive Board at UBS Group AG, responsible for Group Technology & Platforms
- Led UBS’s technology transformation programme including cloud migration and AI/ML deployment across the bank
- Prior experience in large-scale technology transformation at major financial institutions
His profile — a technology modernisation leader from one of Europe’s most rigorous banking environments — suggests N26’s board is prioritising compliance infrastructure rebuilding and regulatory relationship repair over commercial growth in the near term.
The Founder Era Ends
Maximilian Tayenthal co-founded N26 in 2013 alongside Valentin Stalf. The founding team’s exit marks a significant governance transition. Stalf had previously stepped down in 2023.
Tayenthal’s tenure included both N26’s fastest growth period (reaching 8 million customers and operating across 23 EU countries) and its most difficult regulatory period (multiple BaFin actions).
Dargan’s Mandate
N26’s board set a clear agenda for the incoming CEO:
- Lead full compliance remediation across all BaFin-identified deficiencies
- Pursue BaFin approval for lifting the Netherlands mortgage ban
- Restore N26’s ability to expand new customer onboarding beyond Germany and Austria
- Position N26 for the next phase of growth once regulatory standing is restored