Revolut loses CFO after just six months, brings in interim CFO from SLA
Revolut has lost its chief financial officer (CFO) six months into his tenure due to “personal reasons”, the bank says in a statement.
David MacLean joined Revolut from Metro Bank last July, succeeding Peter O’Higgins who resigned in February 2019.
MacLean, having previously served as finance director at Metro Bank for three years, is set to remain with Revolut until the summer on a project basis.
“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,” the company said. “We have an interim CFO in place, working closely with our deputy CFO and our strong finance leadership team.”
Former CFO of Standard Life Aberdeen (SLA) Bill Rattray has now joined the fintech as its interim CFO after more than 30 years working alongside Martin Gilbert, who left SLA to become Revolut’s first chairman at the start of the year.
Revolut’s high staff turnover caught similar attention in November, when the lost Dinis Cruz as its chief information security officer just two months after he was appointed.
The departure of its financial head, who was brought in to boost the challenger’s internal retail banking experience, comes at a time when the neobank is driving growth exponentially.
Having now surged past 10 million customers globally, Revolut also landed a giant $5.5 billion valuation last month, making it the most valuable European fintech alongside Sweden’s Klarna.
As well as appointing big names from UK lenders – including former Goldman Sachs executive Michael Sherwood – the neobank has also been the subject of rumours that it is pursuing a UK banking licence.