Google’s UK vice-president of brand solutions, Dan Cobley, will be leaving the company to start his own financial services technology (fintech) incubator and investment fund.
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The Brightbridge Capital fund will see Cobley taking the helm as CEO, and will be based in Blenheim Chalcot’s building in Hammersmith.
Brightbridge’s aim is to spend its investments by building businesses which will redefine how financial services are delivered through the smart use of internet technology.
Cobley said: “The decision to leave Google is a really tough one, and I will miss the place hugely. But I have always wanted to run my own thing, and having secured the support of such amazing backers there will never be a better time to make the leap.”
Cobley previously held roles as vice president of Marketing Europe for Capital One before spending eight years at Google.
London’s booming financial services sector is the biggest in the world, with global banks such as Citi and Barclays lining the streets of Canary Wharf. It’s what makes London and the City such an attractive place for financial technology (fintech) suppliers to set up business.
Big banking institutions are also beginning to change the way they procure IT solutions, and are looking more and more towards startup companies.
Gavin Cleary, chief commercial officer for financial services organisation at government department UK Trade & Investment (UKTI), said London now has a lot of buyers of financial services technologies, which is a significant draw for fintech companies.
“There’s a very clear message coming from banks,” he said at an event in July. “They are interested in opening up their supply chain. RBS and Lloyds are doing a lot in this space and recognising the opportunities of having a more efficient supply chain.”