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Revolut has appointed a string of City grandees as it seeks to boost governance credentials after a series of mis-steps with the UK's FCA, the Advertising Standards Authority and the Lithuanian parliament, with particular questions over its ability to combat illicit money transfers.
It reported a spate of suspected money laundering to regulators and law enforcement last year, ran into problems with a planned upgrade to part of its compliance systems, and has suffered from high staff turnover in senior compliance roles. In response, it has hired Standard Life Aberdeen co-chief Martin Gilbert to work with chief executive Nikolay Storonsky in an advisory capacity, and has recruited Silicon Valley Bank chief operations officer Bruce Wallace and former Deloitte partner Caroline Britton as non-executives.
https://www.ft.com/content/a41f41de-a09f-11e9-a282-2df48f366f7d
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