Revolut bolsters senior team and board with appointment of four industry veterans

Corporate · 9 July 2019

  • Revolut has appointed Martin Gilbert as Chairman of the Board
  • Richard Davies hired as COO and Philip Doyle as Director of FinCrime Risk
  • Mike Sherwood appointed as Non-Executive Director, pending FCA approval

London, 9 July 2019

Revolut has today announced the appointment of four industry veterans as the company continues to strengthen its senior management team.

Martin Gilbert, the former Co-Chief Executive of Standard Life Aberdeen and Chairman of the PRA Practitioner Panel, has been appointed as Chairman of the Board. Prior to his formal appointment, Mr Gilbert had already been working closely with CEO Nik Storonsky in an advisory role.

Pending FCA approval, Michael Sherwood will join Revolut as its fifth non-executive director. Mr Sherwood spent 30 years at Goldman Sachs, where he held the Vice Chairman and Co-CEO roles. Mr Sherwood joined Goldman Sachs when he was just 20 and was made Head of Debt Syndicate three years later. He was promoted to partner when he was 29.

Mr Sherwood joins experienced fellow non-executive board members Caroline Britton, who recently retired from her role as an Audit Partner at the accounting giant, Deloitte, after over 30 years of service, and Bruce Wallace, the former Global Chief Operating Officer at Silicon Valley Bank (SVB).

Richard Davies, former COO of HSBC Commercial Banking and CEO of OakNorth, has been appointed as Chief Operating Officer at Revolut. Mr Davies brings his broad experience of building and leading commercial banking at a number of institutions including HSBC, Barclays, and TSB.

Mr Davies will lead a range of transformation work for the group, for example to augment the control environment, and lead the group's move towards establishing authorised banking operations in key target geographies.

Philip Doyle has been appointed as Director of Financial Crime Risk, after spending over two years at ClearBank as Head of Financial Crime. Mr Doyle brings a wealth of financial crime and risk experience to Revolut, having previously held roles at FICO, Visa, Morgan Stanley, RBS and Barclaycard.

Nik Storonsky, CEO and Founder at Revolut said: “If we are to achieve our goal of improving the financial wellbeing of millions of people worldwide, then it’s crucial that we have the right mix of technical and financial expertise to help us get there”.

Revolut launched in 2015 as a digital alternative to the traditional banks. While the company currently operates under its electronic money license, it was granted a specialised European banking license by the European Central Bank last year.

Since the innovative FinTech launched back in 2015, it has attracted almost six million customers across the UK and Europe, and is opening 14,000 new accounts each day. To date, Revolut has attracted over $336 million in funding from leading venture capital firms Index Ventures, Balderton Capital and DST Global.

Last month, Revolut launched its public beta in Australia, and the company is expected to launch its services in the United States, Canada, Singapore and Japan in the coming months.

With Revolut, customers can set up an app-based current account in minutes from their smartphone. You can then spend and transfer money globally at the real exchange rate, and hold/exchange 28 currencies in the app.

Customers also receive instant spending notifications, can see how much they are spending each month on things like food shopping and transport, set up monthly spending budgets for these categories, split bills at restaurants and even round-up their card payments and save up their spare change.

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