When starting 15 successful companies, exiting 9 of them and holding a patent is not even your day job, you know that this is a person that is extremely passionate about his career and his work. This is a very inspiring characteristic of Wellstreet’s most recent partner, Armando Coppola, which makes us also really proud to announce he will perform the operational role of Head of Fintech, managing our program in collaboration with AWS – Amazon Web Services – at our Fintech Loft. The experience Armando brings into Wellstreet is invaluable, his work history speaks miles about the know-how he has within the investment banking industry.
Back in 2006, the banking business model was still stuck in quite a 19th-century mentality, leaving a lot of space for improvement with the advance of new technologies. So when Avanza came out to disrupt the market charging no fee if clients made no transactions, it was a bit of a shock in this world full of dinosaurs. Armando was then the first sales representative at Avanza, in charge of bringing awareness to this new company and model. In just a couple of months, he progressed to become the responsible for bringing in all new partners, such as insurance brokers, to advance Avanza’s offer capabilities.
A couple of years later, Armando took on the challenge to remodel an investment & pension consultant firm with a private banking concept - installing a hugely different business model from his Avanza days and seen in the private banking area, having large fees attached to its services. Capitalis Försäkringsmäklare was dealing directly with big banks and stock exchange-listed companies. Once more, a new way to provide service was found by the disruption that the industry didn’t know that it needed. Instead of charging a big commission to its clients, the company would provide advisory counseling on asset management and risk consulting on an hourly fee contract, instead of a high and intransparent kick-back. In 2015, the company was acquired by Söderberg & Partners.
Most recently Armando was working as Head of Sales of the Swedish branch at Nordnet Bank, managing 15 employees. Rather than focusing on corporate businesses as clients, the goal was to accelerate the bank and bring about innovation. Armando was essential in the creation of 5 new products, where the last one was completely revolutionary. Nordnet became able to offer angel investors the possibility to lower the risk of their investments substantially by owning their part in a “kapitalförsäkring” tax environment, decreasing the tax over a new and increased shares emission from 30% to 0% to these angels. Yes, you read correctly! From 30% to 0%!
Another product was referred to as "Vilande bolag" or "Trädabolag" or "5:25 regeln". Built into Nordnet’s toolbox, the product offered help to the entrepreneurs selling companies. Instead of paying around 60% in tax when selling a company, Armando and his team built a product/service in Nordnet letting the entrepreneurs pay a 25% tax instead.
This impressive career journey makes Wellstreet more than sure that we made a great addition to Wellstreet’s team. Moreover, as mentioned, the financial industry doesn’t benefit from Armando’s skills only as an important asset in great company names, but also in his “spare time”. As the entrepreneurial spirit he is, Armando is also an active angel investor and independent advisor. However, as a good Swede, he has been able to balance that with a beautiful family, a sambo (Swedish for partner or cohabitant) and 2 boys with whom he loves to enjoy the countryside, exploring nature, fishing and hunting!
We are very proud to say this: Welcome to the Wellstreet family, Armando!
Read more about Wellstreet Fintech Loft on our dedicated page.