Revolut hires Francesca Carlesi as new UK CEO

Revolut has brought in fintech and banking expert Francesca Carlesi as its new UK CEO as its mission to secure a banking licence continues.

Carlesi has spent more than 15 years in the financial industry, most recently stepping down from digital mortgage lender Molo Finance earlier this month where she was founder and CEO.

She previously held senior roles at Deutsche Bank and Barclays following more than 10 years at McKinsey.

“As we continue to build out our leadership team, [Carlesi’s] extensive experience across the banking and fintech sectors makes her the perfect CEO to drive our UK business forward,” Revolut UK chairman Richard Holmes said.

“As a founder of her own fintech, and having spent many years across the banking industry, Francesca knows what it takes to challenge the banking incumbents, and I look forward to celebrating her successes here in the months to come.”

Carlesi will step into the new role next month, and no doubt be focused on the fintech’s effort to secure a banking licence in the UK, which has been in process for two and a half years.

Revolut, which now has almost eight million customers in the UK, has also delayed reporting its annual accounts for a second year running, and was granted a three-month extension until the end of the year to report.

In the consumer-facing side, the app recently got a design overhaul with the launch of Revolut 10, aiming to encourage more users to use the fintech as their primary bank. 

“There are so many growth opportunities and I couldn’t be more excited to be leading the way for the UK. We have big things planned, so watch this space,” Carlesi said.

Revolut said Carlesi’s appointment adds to the company’s “increasingly diverse leadership group” and wider talent pool.

The company committed to increasing the percentage of women in leadership roles to 30 per cent by 2025.

Carlesi joins Caroline Britton, chair of Revolut’s audit committee and the only other woman across the board of directors and executive leadership team.