As a Ph.D. material scientist and physicist, before becoming co-CEO, Jüngling manages the operations, finance, R&D, and compliance departments of Moonfare.
He had also been the chief product officer of unicorn digital bank N26 before joining Moonfare.
In addition, Jüngling served as an adviser and angel investor for early-stage and start-up Internet companies.
Furthermore, he worked at McKinsey for 12 years, six of those years as a partner, providing global advice to businesses in the energy and basic materials sectors.
Pauls said: “I’ve developed a real respect for, trust in, and friendship with Lorenz over the nearly five years we’ve worked together. His intelligence, 360-degree perspective, and uniquely entrepreneurial approach to the technical aspects of broadening private market access dovetails neatly with my own strengths. This move will unlock meaningful efficiencies for us and prove invaluable to the next phase of Moonfares growth.”
Jüngling added: “Steffen and I have complementary skillsets but share the same values. We both believe that a company should leave the world in a better state than it found it, and for us making high-quality investment opportunities accessible to our customers does exactly that. I’m deeply grateful for the trust Steffen and the board have placed in me.”
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Pauls stated that he was drawn to the co-CEO model due to his involvement in Moonfare’s collaborative founding and research demonstrating the superior performance of co-CEO led organisations, particularly those undergoing technology-driven changes.
“It was a natural fit for the way we already work as a team and company. There are clear opportunities to unlock value from the co-CEO model,” Pauls said.
Earlier this month, the parent company of UK-based Brown Shipley, Quintet Private Bank, which has its headquarters in Luxembourg, and Moonfare announced the signing of a partnership agreement.