Flagstone appoints Arman Tahmassebi as new CEO amid record asset growth
Flagstone, the UK’s largest savings platform, has named Arman Tahmassebi as its new CEO. He takes over from Simon Merchant, who stepped down earlier this year for health reasons. The company now oversees nearly £19 billion in assets, marking a 21% rise over the past 12 months.
Tahmassebi first joined Flagstone as chief operating officer in May 2024. In that role, he focused on improving operational efficiency and refining the firm’s long-term plans. His appointment as CEO follows a career spanning over 25 years in fintech and financial services.
Before Flagstone, he spent five years as COO at LendInvest. Earlier, he held senior leadership positions at ETX Capital and IG. His experience covers operational management, strategic growth, and financial technology innovation. Under his leadership, Flagstone’s business savings division expanded rapidly in 2025. Cash deposits from UK SMEs jumped by 82%, rising from £1.7 billion to £3.1 billion. The platform’s total assets under administration also grew to £19 billion, up from £15.7 billion the previous year. Simon Merchant, the outgoing CEO, will remain with the company as Chairman and strategic adviser. His transition allows for continuity while Tahmassebi steps into the top role.
Tahmassebi’s promotion comes at a time of strong growth for Flagstone. The platform’s assets and SME deposits have both seen significant increases. His leadership qualities will now guide the company’s next phase of development.
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