Revolut adds more City veterans to board

Revolut has appointed former Goldman Sachs International co-chief executive Michael Sherwood, and experienced retail banker and former chief risk officer Ian Wilson, as non-executive directors.

Sherwood spent 30 years at Goldman Sachs, joining at age 20 and becoming head of debt syndicate three years later. He was promoted to partner when he was 29 and became vice chairman, as well as co-chief executive of the international business.

Meanwhile, Wilson has over 40 years’ experience in retail banking, risk management and compliance, working as both an executive and non-executive director at RBS, Santander, Tesco Bank, Charter Court Financial Services and Monzo.

Commenting on the new appointments, Revolut founder and chief executive Nik Storonsky said: “As we continue to grow our offer and expand into new territories, having Michael and Ian’s vast experience and knowledge will be invaluable – both are major assets as we work to become the world’s first truly global bank.”

The two new hires join fellow non-executive board members Caroline Britton, who recently retired from her role as an audit partner at Deloitte, and Bruce Wallace, the former global chief operating officer at Silicon Valley Bank.

In January, Martin Gilbert, the former co-chief executive of Standard Life Aberdeen, co-founder of Aberdeen Asset Management and chairman of the PRA Practitioner Panel, joined Revolut as non-executive chairman of the board.

Last year, the digital challenger bank appointed a new treasurer, deputy chief financial officer and director of financial crime risk.

The news follows the company’s recent announcement of its growth to 10 million customers, and that it has raised an additional $500 million in a Series D investment round. The new capital will be used to strengthen retail and business product in existing markets, roll-out banking operations in Europe, and meet the aim of profitability in 2020.

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