Award-winning ONPEX, The Online Payment Exchange, is pleased to announce the appointment of Juergen Mortag as one of the new Managing Directors of the Luxembourg based ONPEX S.à r.l., effective from 1st of October 2015.

Mr. Mortag brings over 20 years of international experience in structured finance with a strong background in complex finance transactions, cross-border financing, as well as, fund administration at board level.

Prior to joining ONPEX, he was Managing Director of the Growth Fund for Renewable Infrastructure Sicav-Fis-SA. He established and managed capital market based financing structures for banks and insurance companies. In addition, he held management positions in banks and insurance companies and advised on Luxembourg investment structures and regulatory requirements.

As Managing Director, Mr. Mortag will be responsible for ONPEX’s Luxembourg based payment institution business.

Christoph Tutsch, ONPEX CEO and Founder, said: “ONPEX will see a grand transition in 2016 becoming a Payment Institution, which will bring new challenges and opportunities. As the Luxembourg office is expanding and the projects ahead are increasing, we are thrilled to have Juergen join our international team. We believe his career history in Luxembourg and experience in the financial industry will help us continue growing while pushing our boundaries even further.”

Juergen Mortag, new Managing Director of ONPEX S.à r.l., said: “There has never been a better time to join this ambitious and innovative company. ONPEX has been growing at an outstanding rate this year, challenging the payments sector globally and setting new standards of simplicity, automation and transparency. I am looking forward to playing my part in further helping their development to establish a truly global payment business.”