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Upcoming IPO? Revolut hunts for Investor Relations team

The neobank is looking for a head of Investor Relations, who will hire up to two Investor Relations analysts, a move often taken by firms ahead of them going public.

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Revolut is looking to hire an Investor Relations team, a move that could mark the starting gun on its long-awaited stock market listing.

The job advert, published on Revolult's careers page, is for a head of Investor Relations with public company experience, who will be responsible for building a team and hiring up to two Investor Relations analysts.

The job spec, seen here, does not specifically mention a Revolut stock market listing, but hiring an Investor Relations team is often a move taken by a company ahead of going public.

It says the chosen candidate, who will be a point of contact with the investment community, will have “extensive experience” leading Investor Relations at a fast growth public company in consumer technology or fintech sectors.

The candidate will also have over seven years of experience in investment banking or as a sell-side analyst at a leading investment bank or a research firm.

It says: “You'll get to work with players from all areas of the company: one day you are involved in a banking licence application process, the next you're running analysis for a new product launch and creating an executive summary of Revolut’s performance for the board of directors. So, are you ready to play?”

The CEO and co-founder of Revolut, Nik Storonsky, is on record saying Revolut’s IPO will happen at some point, but in an interview last year suggested it could be some wait.

In September last year Storonsky told Bloomberg: “To be able to IPO successfully, we need to be at least in the few billion dollars range of revenue a year."

Revolut’s adjusted annual revenue was £261m ($359m) in 2020.

A report in Business Insider last month also said Revolut would not list this year.

Speculation around a flotation had previously gained momentum after Revolut hired former Standard Life Aberdeen joint chief executive Martin Gilbert as chairman and Michael Sherwood, the former joint chief executive of Goldman Sachs in London, was  brought on to the board.

A Revolut spokesman said a listing “probably” would not take place in 2022. “We’ll IPO when the time is right and when we need to,” they added.

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