8.6 C
New York
Friday, September 25, 2020
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

Yandex agrees to Tinkoff bank acquisition for $5.5bn

Yandex is Russia’s biggest tech company and now it is set to buy the challenger bank called Tinkoff for $5.5 billion.

TransferWise reports 70% revenue growth and a 4th straight year of profitability

Annual revenue at TransferWise grew to £302.6 million, the company. These results show a net profit after tax of £21.3 million for fiscal year ending March 2020.

“Mitto helps its users to save money while saving the planet,” says Marcos Cuevas, the company’s co-founder and CEO

Mitto is a Barcelona-based debit card/finance app and it is mainly a sustainability-focused product that has raised €2M from Athos Capital and others. Mitto has a live crowdfunding campaign on Crowdcube in which the company has already raised £500,000.

Allica Bank is launching a £100m funding round

Allica Bank has already closed a £26 million investment and now is launching a new £100 million funding round to meet the current high levels of demand for its services.