targens management team has been strengthened, and integration is expected to be completed by the end of the year.
Stuttgart, April 18th – GFT formally completed the acquisition of targens GmbH on April 3rd and adjusted its management structure. The transaction was announced in February 2023.
With targens, GFT not only gains a renowned client base, but also an expert company for banking, compliance and digital innovation. The compliance products focus on combating financial crime with the SMARAGD Compliance Suite at its core. The consultants are experts in regulation, bank management and data architectures in financial service providers. Digital Innovation rounds off the targens portfolio with products and solutions related to AI and DLT. This strengthens GFT’s position as a leading provider of digital solutions for the financial sector. In order to realize the full potential of the takeover as quickly as possible, the targens brand is to be merged into GFT by the end of the year at the latest.
In the course of the integration, the management of targens was strengthened. Jens-Thorsten Rauer, Group Chief Executive Central and Western Europe of GFT and Volker Fischer, General Manager of GFT Germany, were appointed to the management of targens.
Susanne Hofrichter and Peter Kronenberg from targens will continue to be responsible for the product area around the SMARAGD Compliance Suite . Together with Max Baritz , you will now report to Jens-Thorsten Rauer. Christian Otto, on the other hand, will join the Executive Board of GFT Germany as Head of the Consulting business. He will be responsible for consulting services in the area of technical and IT consulting in banking regulation as a new growth area of GFT Germany.
targens CEO Lars A. Ludwig will leave the company at the end of May 2023. “As CEO, Lars Ludwig has decisively developed targens strategically, in terms of personnel and economically and made it the impressive company it is today. We very much appreciate the constructive cooperation with him and are pleased that he will accompany us with his experience in integration until May 31, 2023,” says Volker Fischer.
“Compliance and regulation are getting increasingly important for companies in all industries worldwide,” says Jens-Thorsten Rauer. “The expertise of targens combined with GFT’s global footprint creates great opportunities for GFT, both for our new colleagues and for our clients.”