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Stripe product head becomes Bank of America MD while bankers leave for fintech

Despite uncertainty in the job market, a number of bank employees are deciding fintech is the better bet. Amid a number of senior staff leaving for fintechs, however, one product head at Stripe has gone the other way.

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Delia Pawelke joined Bank of America last week, as an MD in payments and US banking risk in New York. She spent the last seven years at Stripe, beginning in compliance before becoming head of product risk. This marks Pawelke's return to banking, having spent five years at JPMorgan previously.

Not all who return to banking from fintech stay there. Shinnell Moriah left Wells Fargo, where she was a VP, for Brex in 2021. After becoming chief compliance officer of its asset management division, she left for Goldman Sachs last August. Now, just nine months later, Moriah is back in the world of fintech after joining Wise in New York as US head of compliance for assets.

Some people leaving banks for fintechs are doing so for the first time. Alastair Nolan spent the last 12 years at Morgan Stanley in London, joining as a graduate, but has just arrived at SumUp in Dublin as its Europe CFO. Nolan isn't entirely green in the world of fintech, however: he's been a fintech equity analyst for the bank since 2020.

Leaving for fintech in 2024 isn't the kind of flashy move it used to be, but it has its perks. Bank alumni at Stripe have praised the significant pace of personal development. Pawelke described her own time there as the "most formative period of my professional life." ✨

The benefits in fintech aren't uniform. Wise's CTO has called senior roles at the fintech "intense," but good for development. At SumUp meanwhile, Glassdoor reviews in 2024 have said it's "all about being flexible." 🤔

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AUTHORAlex McMurray Editor

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