Gerd Schenkel is an Australian-German businessperson. He is the former Chair of Credit Clear (ASX.CCR), Non-executive Director of Helia (ASX.HLI), and Partner at Kearney, a global consultancy.

Education

Schenkel has a master's degree in Engineering and an

MBA A Master of Business Administration (MBA; also Master's in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accounti ...

from the Columbia Business School in New York. He is the co-author of several scientific articles in the field of

robotics Robotics is an interdisciplinary branch of computer science and engineering. Robotics involves design, construction, operation, and use of robots. The goal of robotics is to design machines that can help and assist humans. Robotics integrate ...

Career

In 2008, Schenkel launched

UBank Ubank (stylised as ubank) is an Australian direct bank, that operates as a division of National Australia Bank (NAB). It was established in 2008, and provides savings products and home loans over the Internet and telephone. Ubank operates un ...

, the direct bank of National Australia Bank which has grown its balance sheet to approximately $20b. Before launching UBank, Schenkel was general manager of NAB's CRM system. Prior to that, Schenkel worked for

The Boston Consulting Group Boston Consulting Group, Inc. (BCG) is an American global management consulting firm founded in 1963 and headquartered in Boston, Massachusetts. It is one of the Big Three (or MBB, the world’s three largest management consulting firms by rev ...

. Until June 2017, he was the CEO of Tyro Payments, an Australian EFTPOS services company, aiming to "disrupt" the incumbent

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

s. In December 2019, Tyro Payments listed on the

Australian Stock Exchange Australian Securities Exchange Ltd or ASX, is an Australian public company that operates Australia's primary securities exchange, the Australian Securities Exchange (sometimes referred to outside of Australia as, or confused within Australia as ...

. As of 15 July 2020, the company's

market capitalisation Market capitalization, sometimes referred to as market cap, is the total value of a publicly traded company's outstanding common shares owned by stockholders. Market capitalization is equal to the market price per common share multiplied by t ...

was approximately A$1.85b On 13 June 2017 Tyro announced that Gerd Schenkel had resigned because he wanted to "pursue other business opportunities and spend more time with his family". The Australian Financial Review reported that Schenkel was pursuing "a new banking venture”. Schenkel is the Managing Director of consultancy "BGA Digital". Prior to Tyro, Gerd Schenkel was the founder and Executive Director of

Telstra Digital Telstra Group Limited is an Australian telecommunications company that builds and operates telecommunications networks and markets voice, mobile, internet access, pay television and other products and services. It is a member of the S&P/ASX 20 ...

, the digital division of one of Australia's largest corporations. At Telstra, he led the launch of Belong, Telstra's low cost broadband business which as of June 2017 had over 150,000 customers. A regular contributor to the Australian business community, in November 2017 was appointed to the Federal Treasurer's Small Business Digitisation Taskforce, which led to the federal Government to provide $37.3 million (over four years from 2018) to support small business' adoption of digital tools and methods. In December 2018, Gerd was appointed chairman of Australian

FinTech Fintech, a portmanteau of "financial technology", refers to firms using new technology to compete with traditional financial methods in the delivery of financial services. Artificial intelligence, blockchain, cloud computing, and big data are r ...

Credit Clear. In October 2020, Credit Clear listed on the

via an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...

under the

ticker symbol A ticker symbol or stock symbol is an abbreviation used to uniquely identify publicly traded shares of a particular stock on a particular stock market. In short, ticker symbols are arrangements of symbols or characters (generally Latin letters ...

CCR. In December 2021, Schenkel was appointed to the Board of Genworth, an ASX listed insurer. In 2021, Credit Clear announced that it acquired ARMA, a debt collections services business to grow its revenue at a cost of $45m. In 2021, Schenkel was reported to be part of a "consortium" wanting to acquire ME Bank, but ME Bank was ultimately acquired by Bank of Queensland.

References

External links

{{DEFAULTSORT:Schenkel, Gerd Living people Year of birth missing (living people) Australian business executives Columbia Business School alumni