Revolut, the digital bank, is set to spread its wings in the U.S and to boost its digital banking services, the bank has appointed Ronald Oliveira as the new CEO. The plan was formulated back in 2018 by Revolut, i.e. to launch a bank in the U.S and to appoint a veteran banker of the same region and the same has been revealed now.
Why Revolut appointed Ronald Oliveira as the New CEO?
The market and the demands-supply ratio are different in the U.S. than Europe and to grab the market with tough existing competitors, the bank decided to hire someone who has several experiences in the banking sector including regional areas and overseas and can handle the business very well. All such essential requirements were fulfilled by Ronald Oliveira and hence he was appointed as the new CEO of Revolut.
Who is Ronald Oliveira?
Oliveira has 40 years of experience as a senior executive in various financial institutions. He served in Union Bank of California for 20 years and also given the services at AvidBank for 6 years.
Impact of the decision on former CEO’s
The former chief financial officer of Revolut, i.e. David Maclean left the organization and he served only 6 months. He stepped down from the role of finance officer in Revolut leaving a statement terming as ‘Personal Reason’. Earlier, he worked in the Metro Bank as a finance director.
Glimpse of Revolut
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Revolut is the leading digital bank of Europe that aims to offer banking services through digital mediums to its customers. The foundation pillar of the bank was kept 5 years ago and for the solace of customers, the bank started cashback offers on any investment. For smooth business and vision to expand in the U.S., Revolut was always interested to hire an Executive who can meet the challenges of the U.S. Market. It looks like, they have started well!