coconet Group Appoints Dr Reinhard Festag as New CFO
coconet Group, a leading provider of corporate banking software solutions, has appointed Dr Reinhard Festag as its new Chief Financial Officer (CFO).
CFO at coconet
With this strategic hire, the company completes its leadership team – strengthening its focus on financial stability and long-term sustainability while preparing for the next stage of growth.
Dr Festag brings an impressive career trajectory shaped by renowned institutions and international projects. He began his professional journey at McKinsey & Company, where he worked as an Associate Principal, advising global clients on strategic initiatives and operational improvement programmes – a role that honed his analytical and leadership skills.
He then moved to Siemens Business Services, where he spent several years and ultimately served as Commercial Head of Sales. In this capacity, he was responsible for large-scale IT outsourcing deals and gained deep experience in managing complex and high-value projects.
As CFO and Head of Strategy at gateprotect AG, his focus was on driving internationalisation and sustainable growth. His expertise in scaling organisations and executing cross-border expansion strategies will be vital in helping coconet strike the right balance between growth and financial resilience.
“With Dr Reinhard Festag, we welcome a highly experienced finance leader who combines strategic insight with operational rigour,” said Björn Hassing, CEO of coconet Group. “His appointment supports our mission to maintain a robust and sustainable financial foundation while accelerating our international growth journey.”
Dr Festag adds: “I’m excited to join coconet Group at this pivotal time. The ambition to foster long-term financial stability while taking the next steps in growth is both inspiring and essential for future success.”