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David Thomson to invest in digital banking

Thomson Reuters billionaire chairman David Thomson (photo) is moving into banking. He is buying a stake in a digital bank in Argentina.

Brubank said Thomson, 62, will buy a 15 per cent stake. The value was not disclosed and must be approved by Argentina’s central bank.

“He’s more than an investor to us, he’s a strategic partner,” Brubank’s founder and chief executive officer Juan Bruchou told Bloomberg. “We share the same long-term vision of a bank that offers a better user experience and technology.”

Brubank is a lender with no branches and 40,000 customers after seven months in operation without advertising beyond word of mouth. ■