“In the aftermath of Covid, it’s such an important time for the UK small and medium-sized business market, and the chance to lead a newly licensed bank that can be part of the solution is a great opportunity,” Mr Davies said. “It was a difficult decision . . . and I wouldn’t want to transition if we hadn’t already made massive progress.” Revolut said Mr Davies will continue to serve as an adviser to its European business, and will remain a non-executive director of its international holding company.

https://www.ft.com/content/b49516a7-e562-4bef-b0d2-deabc767cdbf