Revolut taps investment veteran as chairman

The fintech names banking veteran Martin Gilbert as its first non-executive chairman

Martin Gilbert, the former co-chief executive of asset manager Standard Life Aberdeen, has joined Revolut as its first non-executive chairman.

Gilbert, who has been an adviser to Revolut chief executive Nikolay Storonsky since March, will take on his new role on January 1.

Gilbert’s appointment follows a series of high-profile, experienced hires as the British-based bank prepares to expand into new markets on the back of key deals with Visa and Mastercard.

Revolut has also expanded into Australia and Singapore and opened one million new accounts in October.

“Martin is a respected veteran of the financial world, and brings unparalleled experience to Revolut. His knowledge will prove invaluable as we continue our mission to become the world’s first truly global bank,” Storonsky said in a statement.

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The formal appointment of a senior banker will help Revolut leave its teething problems behind and prepare for a new round of financing. The start-up aims to secure an additional $1.5 billion (£1.2bn) in 2020 to finance the next level of growth

Revolut has amassed more than eight million customers since its 2015 launch and is hiring 3,500 people to fuel its expansion plans.

In July it hired Richard Davies, the former chief operating officer at HSBC Commercial Banking, as its new chief operating officer. Dave MacLean, the former finance director at Metro Bank, joined in October as chief financial officer.

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