Revolut has made significant board appointments following its UK banking licence approval.
- Fiona Fry, with over 40 years in professional services, joins the board.
- Sir Peter Estlin, former Lord Mayor of the City of London, is also appointed.
- Revolut enhances governance and risk functions as it transitions to a full bank.
- An Initial Public Offering (IPO) might be contemplated by Revolut next year.
Revolut, a leader in the fintech industry, has secured board appointments following the recent acquisition of a UK banking licence. These appointments include notable figures, Fiona Fry and Sir Peter Estlin, who bring extensive experience in finance and governance to Revolut’s expanding team.
Fiona Fry, a seasoned chartered accountant, has spent over four decades in professional services, primarily focusing on governance and corporate culture. Her tenure at KPMG and service on the Financial Conduct Authority’s Consumer Panel highlight her expertise in financial oversight, making her a strategic addition to Revolut’s board.
Sir Peter Estlin, appointed alongside Fry, offers significant experience as a former Lord Mayor of the City of London. Estlin’s career includes positions at prominent financial institutions such as Citigroup and Barclays, where he served in various leadership roles. His vast expertise in finance promises to reinforce Revolut’s strategic direction as it grows within the financial sector.
In its transition to becoming a fully-licenced bank, Revolut now focuses on strengthening its governance structure. There have been numerous strategic hires in compliance and risk, enabling the company to more effectively manage these critical areas.
The appointment of Fry and Estlin is part of an overarching plan to bolster the company’s governance levels, as noted by Revolut UK’s Chairman, Richard Holmes. Revolut aims to secure a full banking licence to better serve its expanding UK customer base.
Additionally, Revolut’s valuation has reached $45 billion, and the company is reportedly considering an IPO, potentially next year. However, a listing in London is seen as unlikely according to co-founder Nik Storonsky.
Recently, Revolut marked the achievement of its 50 millionth customer with a celebratory event featuring popstar Charli XCX, underscoring its rapid growth and strong market position.
Revolut’s strategic new appointments mark a pivotal step in its journey towards becoming a full-fledged bank, reflecting its commitment to robust governance and growth.
