UK-headquartered Revolut’s Chief Compliance Officer in Singapore, Rayson Tan, has left the challenger bank to join Geneva-based private bank Pictet as Chief Risk Officer, Asia.

Tan joined Revolut in September 2019 to head its compliance in the Asian markets and later took the additional role of overseeing its risk management frameworks and legal measures.

Based in Singapore, Tan is a seasoned banker with two decades of experience, especially in the areas of compliance. At the time of his appointment, he became one of Revolut’s most senior hires.

Prior to his year-long stint at the challenger bank, Tan spent around six years each at Credit Suisse and Deutsche Bank: he was stationed in Singapore for both.

He parted from Credit Suisse as Managing Director and was also overseeing the bank’s APAC financial compliance. At Deutsche, he joined as the Regional Anti-money Laundering Officer of Asia-Pacific and later became its global PWM AML Coordinator.

According to his Linkedin profile, Tan started his banking career at UBS Investment Bank as an AML Compliance Officer.

Ambitions for Global Expansion

Revolut expanded its Asian operations with a few other major hires in Singapore as the challenger bank expanded its business into Asia and is looking for further growth. Earlier this year, the UK fintech hired James Shanahan as its Singapore CEO and Pam Chuang as Head of Growth in Singapore. Both of them are still working at Revolut.

Apart from Singapore, Revolut also entered Japan, one of its major non-English speaking markets outside Europe. Furthermore, the mobile-based bank is seeking a US banking charter license for its operations across the Atlantic.