Neobank Revolut has been in the news for niggling problems that afflicted the company as it grew rapidly in recent months. The U.K.-based startup is about to rely on the help of experienced bankers and financial experts to overcome these issues.
Revolut readily admitted that at times it struggled to cope with the rapid growth rate. It has called on the help of experienced bankers in its bid to become more stable.
The company has asked Martin Gilbert, the former head of asset manager Aberdeen, to take over as chairman. He will assume the post in January, 2020, according to a report in the «Financial Times» (behind paywall).
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Revolut Chief Executive Nik Storonsky has taken advise from Gilbert for the past months already. He now expects that the formal appointment of the senior banker will help the company leave its teething problems behind it and prepare for a new round of financing. Revolut aims to generate an additional $1.5 billion in 2020 to finance a next level of growth.
Gilbert will have a number of other experienced financial experts alongside on the board to help him in the task at the unicorn. Ex-Goldman Sachs manager Michael Sherwood, Caroline Britton, an ex-partner at Deloitte, and Bruce Wallace, chief digital officer at Silicon Valley Bank, have all agreed to join the board of Revolut.
