Ex-Barclay IT manager takes the helm of deVere Vault fintech bank

By Andrei Skvarsky.

deVere Group, a global financial consultancy, has hired Donatas Kontrimas from Barclays as chief executive of the deVere Vault bank, a global e-money app it launched on April 10.

“We are targeting the expat community and internationally mobile people and organisations,” a statement from the London-headquartered group quoted Kontrimas, who is a software engineer by training, as saying in reference to deVere Vault.

“The days of traditional banking are, I believe, now numbered,” Kontrimas said.

The chief executive of deVere Group, Nigel Green, said in a statement on the launch day of deVere Vault: “Initially, deVere Vault will provide global services in electronic money and a single card, multi-currency service.  Focusing on those with an international lifestyle, we will also ensure that the best currency exchange ratios are given.”

“You will be able to open a deVere Vault account in around five minutes, withdraw money from any cash machine worldwide, get real-time notifications with all your transactions, spend money on the card wherever Mastercard is accepted, and send and receive money in most major currencies instantly with other deVere Vault account holders,” Greene said.

“Banking as we have known it until now is finished,” he said.

“This is a low-cost, e-money app,” Greene said.

Kontrimas headed Barclays’s software delivery centre in Lithuania during his several years of work at the British lender.

He took his job at deVere on Tuesday and reports directly to Green.

deVere Group’s more than 80,000 clients include high-net-worth individuals and ordinary, though mostly rather affluent, people. The company has a network of more than 70 offices across the world and has $12bn under advisement.

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