Eight executives exit Revolut (during lockdown)

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AltFi | Aisling Finn | Apr 29, 2020

REvolut Vlad and Nikolay - Eight executives exit Revolut (during lockdown)

Image source: Nikolay Storonsky and Vlad Yatsenko/Revolut

The fintech is also on the hunt for a UK Chairperson to help secure a UK banking licence, despite the constant movement at the top.

Digital banking service Revolut has lost eight top employees since the middle of March this year, although the departures are not linked to Covid-19.

The news, first reported by Financial News, comes amid a period of uncertainty for Revolut as, just two weeks ago, it was revealed that co-founders Nik Storonsky and Vlad Yatsenko were to forgo their salaries for a year and top executives would take a 25 per cent pay cut to ensure their employees got theirs.

First on the list to depart the e-money institution was Revolut’s chief financial officer, David Maclean, who left the position after less than six months on 16 March 2020.

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Soon after, Revolut named former chief financial officer of Standard Life Aberdeen Bill Rattray, a longtime colleague of recently appointed Chairman Martin Gilbert, as interim CFO

Just two weeks after Maclean left, Revolut’s head of wealth and trading André Mohamed, who co-founded trading platform Freetrade, left at the beginning of April.

Last week it was also reported that the banking service had also lost its deputy chief financial officer, Stefan Wille, and its interim head of finance Anna Borzenko, who had come to the end of her contract.

The most recent bunch to leave include lead data scientist Abhi Thanendran, global head of employer branding Anca Pintilie, global head of reporting Alexander Bratz and North America general manager Dan Westgarth, who spoke at the AltFi Toronto Summit 2018.

The reason for a constant movement at the top of the UK challenger is reportedly Revolut’s relentless quest for profitability and its unforgiving, ruthless culture—first exposed by Wired just over a year ago.

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