8.6 C
New York
Friday, February 26, 2021
Home Challanger banks Revolut’s head of wealth and trading André Mohamed set for depart

Revolut’s head of wealth and trading André Mohamed set for depart

He was hired to lead wealth and trading products at Revolut, the $5.5bn challenger bank. Now he is set to leave the company after 18 months in the role.

André Mohamed is among everything else a former Freetrade co-founder. André Mohamed joined Revolut in November 2018, just weeks after the public launch of Freetrade, a rival share trading app. Then Revolut announced plans to launch trading in June 2018.

Related: CTO of UK challenger bank Monzo Meri Williams steps down

A person from Revolut said Mohamed’s departure was “all very amicable”. But Mohamed himself could not be reached for comment.

The digital bank has already started to look for Mohamed’s replacement. A job listing on its website said it seeks a London-based wealth and trading lead with a “strong background in retail investments”.

Revolut made some serious changes to its senior management teams just after enduring fierce criticism over an aggressive corporate culture during the first six months of 2019.

With that, City grandees Martin Gilbert, former co-chief executive at Standard Life Aberdeen, and Michael Sherwood, former CEO of Goldman Sachs International, have joined its board in recent months.

Read also: Revolut finally launches in the United States

Revolut came with its own trading feature in August 2019. That was with the help of Mohamed as the leader. And most recently, the feature saw the rollout of a gold trading offering, which is now available to all users.

This fresh exit at Revolut comes as the challenger bank takes on the US market, which will see it become a direct competitor of trading app giant Robinhood on its home turf.

Sources: https://www.fintechfutures.com/2020/04/revolut-loses-its-head-of-wealth-and-trading-a-former-freetrade-co-founder/https://www.fnlondon.com/articles/revoluts-head-of-wealth-and-trading-set-for-exit-20200402https://www.altfi.com/article/6391_revoluts-head-of-wealth-and-trading-andr-mohamed-to-depart

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

Recent posts

Starling Bank aims to hold 18% of the SME market

The digital bank Starling announced a plan in which it is going to hold 18% of the SME banking market in five years, Insider reported.

TransferWise gets rebranded as ‘Wise’

The rebranded company Wise drops the part Transfer as a signal of moving on from the money-transfer focus of the company.

Revolut about to increase fees and cut number of free trades

Revolut introduced additional fees on its free plan and trading on the Revolut platform will also become more expensive.

Exclusive: An interview with Michael Schweikart, a co-founder of the sustainable banking provider Tomorrow

Tomorrow is a social business FinTech company and a neobank, that was started in 2018 by founders Inas Nureldin, Jakob Berndt, and Michael Schweikart with a vision to use money as a lever for positive change. Since its launch in 2018, the company has 50+ employees and 55,000+ customers.