Digital bank Revolut has reportedly appointed Francesca Carlesi as CEO of its UK operations, the Fintech company confirmed in a statement issued on Thursday. This new leadership announcement for Revolut should help the firm become a “global financial super-app.”
Revolut, which is among the United Kingdom’s most valuable startups with a valuation of about $33 billion in 2021, had submitted an application for a UK banking license over 2 years back. However, the firm is still awaiting approval from regulatory authorities.
As first reported by Reuters, Carlesi will be responsible for leading the UK entity associated with Revolut – which has applied for that banking license. She previously founded and managed another digital mortgage lender (Molo Finance).
As widely reported, Revolut’s financial accounts for 2022 were delayed for the second year straight. When Revolut’s long-postponed 2021 accounts were released in March 2023, the auditor BDO LLP stated that it would not be able to independently confirm three-quarters of its 636 million pounds (appr. $773.6 million) of earnings.
The warning led to considerable scrutiny from UK regulatory agencies, resulting in even more delays in the banking license application approval process. Revolut’s chief financial officer, Mikko Salovaara, left the firm back in May of this year.
As covered, Revolut, the financial super app with more than 35 million customers worldwide introduces Trading Pro — a powerful set of tools and insights for advanced traders designed to enhance their trading experience.
The new subscription across the EEA is “provided by Revolut Securities Europe UAB and can be added on top of existing Revolut plans (except for Ultra plan which includes Trading Pro free of charge).”
With Trading Pro, active investors can now “benefit from discounted commission fees at just 0.12% (down from 0.25%) for trades exceeding the current Revolut plan free trades allowance and no minimum country-based fee.”
Other fees may apply.
Trading Pro also provides “access to higher order limits on US and EEA stocks and Exchange Traded Funds (ETFs): from $10,000 to $1,500,000 per order on US stocks and €1,500,000 for EEA stocks and ETFs, with the maximum of 50,000 shares per trade.”
For data-driven decisions Trading Pro users can “access advanced portfolio analytics, including performance benchmarking, realised profit & loss tracking, and portfolio allocation, etc.”
Trading Pro also comes “with a desktop Trading Terminal (accessible via trade.revolut.com), where active traders can set up custom workspaces, monitor market trends, and execute trades efficiently, all within a single screen, for the ultimate desktop experience.”