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Home Challanger banks Revolut's CFO steps down, cites personal reasons

Revolut’s CFO steps down, cites personal reasons

David MacLean quits Revolut as a chief financial officer after just five months in the role.  He has joined Revolut from Metro Bank last July, succeeding Peter O’Higgins.

MacLean is leaving the company, which recently tied with Klarna as Europe’s most valuable fintech startup, for personal reasons. 

Read also: UK’s most valuable fintech startup? Revolut!

Revolut has appointed a temporal chief financial officer but has not yet appointed MacLean’s replacement. It is likely that MacLean will nonetheless support Revolut on key projects until this summer.  

The company’s commentary: “Under Dave’s leadership the finance team has done a great job in building the financial capabilities that we need to continue to grow our business. We have an interim CFO in place, working closely with our deputy CFO and our strong finance leadership team.”

Recently, Revolut is trying to bring in a host of finance veterans in a bid to reshape its image. City veteran Martin Gilbert, a former co-chief executive of Standard Life Aberdeen was appointed the fintech’s inaugural chairman last year. The mentioned interim CFO is Bill Rattray who has spent more than 30 years working Gilbert.

Revolut has as well appointing big names from UK lenders. It has recruited former Goldman Sachs executive Michael Sherwood as a non-executive chairman and continues appointing former Deloitte and Silicon Valley Bank executives to its board. 

From recent data, Revolut increased customer growth by 169 percent in 2019. The fintech has announced it will use its funds from its most recent raise to fuel expansion and on encouraging daily use of its personal and business accounts. 

Read also: Revolut seeking UK banking license because of Brexit

Revolut has also pledged to work on its customer service, where it has faced serious criticism and admits it was failing to effectively communicate with customers. 

Sources:
1)https://www.fintechfutures.com/2020/03/revolut-loses-cfo-after-just-six-months-brings-in-interim-cfo-from-sla/
2) https://www.cityam.com/revolut-finance-chief-steps-down-after-five-months/

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Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

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