Revolut Expands Team Ahead of UK Banking Approval
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Revolut is moving closer to becoming a fully licensed UK bank, with plans to complete its "mobilization phase" by July. Since securing its restricted banking license last summer, the company has grown its UK banking division from 35 to over 100 employees, aiming to reach 200 by year-end.
Once it receives final approval, Revolut will begin transitioning its millions of UK customers from its EMI entity to its new banking unit.
Given that securing the license took over three years, the UK CEO Francesca Carlesi emphasized the importance of getting this transition right, stating, “We’re in no rush, as getting this right matters more, so once everyone is ready, we’ll launch the UK bank and begin to operate as one of the UK’s newest banks.”
Alongside Carlesi, who joined over a year ago, Revolut has strengthened its leadership team with experienced banking executives, including ex-Standard Chartered executive Richard Holmes as UK Chairman, former Lloyds Banking Group auditor Ben Ellis as Chief Compliance Officer, and Carlos Selonke from Banco Santander as Chief Information Officer.
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