flatexDEGIRO AG has successfully finalized the legal merger of its subsidiaries DeGiro B.V. and flatexDEGIRO Bank AG and further strengthens the DEGIRO leadership team. In addition to his current role as Group CFO, Muhamad Chahrour, will join the branch management, becoming CEO of DEGIRO. Stephan Simmang, currently Co-Head IT of DEGIRO, and Frans Kuijlaars, currently Country Manager in the Netherlands, will be appointed additional branch managers. Esmond Berkhout and Peter Verberne will leave the Company. With the new team, simplified structures, continued operational tailwind and new customer offerings, the Company is very well positioned to significantly exceed the original synergy expectation in the medium term. Nine months after closing the acquisition, DEGIRO has become a branch of flatexDEGIRO Bank under the supervision of the German Federal Financial Supervisory Authority (BaFin) as a result of the merger. This leads to a significant reduction in regulatory complexity and the number of internal corporate bodies. At the same time, the new structures will harmonize the corporate governance and allow for better steering and internal monitoring. Management expects further cost reductions and overall improvement of the risk profile while strengthening efficiency and capabilities.