The ambitions of Revolut to grow its market share further in its home ground have become more evident as the London-headquartered fintech announced today (Thursday) the appointment of Francesca Carlesi as the Chief Executive Officer of its UK division.

Revolut’s UK CEO

The appointment of a dedicated UK CEO came as the fintech is in the process of obtaining a UK banking license, which it applied more than two years ago but is yet to receive approval. Carlesi will head the Revolut entity that has applied for the banking license.

“Revolut is the future of digital banking,” Carlesi said in a statement.

“With nearly eight million customers in the UK and a diversified product offering, the company is at the forefront of change in financial services. There are so many growth opportunities, and I couldn’t be more excited to be leading the way for the UK. We have big things planned, so watch this space.”

A Strategic Appointment

Carlesi joined Revolut from Molo Finance, a digital mortgage lender she co-founded and ran as the CEO for about seven years. According to her LinkedIn profile, she started her career at Bridgepoint Capital and later joined McKinsey, where she spent ten years. She also worked at Barclays as the Global Head of Strategy Business Planning and Analytics for a couple of years and at Deutsche Bank for another three years as the Managing Director, Chief of Staff, and Global Head of Regulatory Affairs.

“As we continue to build out our leadership team, her extensive experience across the banking and fintech sectors makes her the perfect CEO to drive our UK business forward,” said Richard Holmes, the Chair of Revolut UK.

“As a founder of her own fintech, and having spent many years across the banking industry, Francesca knows what it takes to challenge the banking incumbents, and I look forward to celebrating her successes here in the months to come.”

Most-Valued UK Fintech

With an official valuation of $33 billion, Revolut is the most valued fintech in the UK. However, its valuation reportedly took a hit in secondary deals.

While the fintech is yet to receive a UK banking license, it operates in the European Union with a Lithuanian banking license. However, the UK remains the fintech's largest market in terms of revenue. Revolut also simplified its ownership structure recently after negotiating with its major shareholders, which was anticipated to be a roadblock in its way towards obtaining a UK banking license.

Meanwhile, according to a report by crypto tax software provider, Recap named Revolut as the most cryptocurrency-friendly bank. Although the fintech is operating in the UK as a payments institution.