The former president of Germany's Bundesbank will likely chair the board, replacing former Georgian prime minister and Raisin startup investor Lado Gurgenidze, the «Financial Times» (behind paywall) reports.

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Raisin operates online platforms in Germany, the UK, the US, and five other European countries where consumers can compare savings accounts and other financial products among banks. Founded in 2013, the company has benefited from the sharp rise in interest rates, increasing its assets under management by 20 billion euros ($21.3 billion) to 50 billion this year. A quarter of the money comes from US customers, co-founder and CEO Tamaz Georgadze told the FT.

Weber is also an advisor to German asset manager Flossbach von Storch and Boston Consulting Group, as finews.com also reported.