Revolut names TSB's Richard Davies COO

Revolut names TSB's Richard Davies COO

London-based fintech unicorn Revolut has hired TSB and HSBC veteran Richard Davies as chief operating officer, according to the Financial Times.

Davies leaves his position as TSB's commercial banking director after just 18 months. The bank's new CEO, Debbie Crosbie, has been overhauling management in recent weeks.

Davies has had spells at HSBC and Barclays and also spent nearly a year as chief executive of SME-focused challenger bank OakNorth.

In Revolut, he joins one of the fintech scene's biggest stars. Since launching, the startup has attracted five million customers and raised more than $336 million in funding, boasting a valuation of $1.7 billion.

However, it has recently suffered a spate of setbacks, facing questions over its money laundering controls, racking up complaints to the Financial Ombudsman Service, and taking shots from former employees about a toxic work atmosphere.

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