Revolut UK has announced that the company has continued to build out its Board with two new appointments, with Fiona Fry and Sir Peter Estlin joining Revolut as Independent Non-Executive Directors.
The appointments come as Revolut is working through a mobilisation period for its UK Bank, as the company seeks a full banking UK license. Revolut also recently unveiled plans to offer stock trading (and possibly CFDs as well) in the UK, alongside the launch of its Revolut Invest CFDs trading offering in the EU.
Fiona Fry, a qualified chartered accountant, has built a career spanning more than 40 years in professional services. Fiona was a Partner at KPMG for over 23 years, where she focused on governance and culture, primarily in the retail banking sector. She also spent two years on the Financial Conduct Authority’s Financial Services Consumer Panel.
Sir Peter Estlin, who served as Lord Mayor of the City of London in 2018/19, qualified as a chartered accountant in 1985 and became a Partner at Coopers & Lybrand in 1993. He has held senior positions across the banking sector including at Salomon Brothers, which became part of Citigroup, before moving to Barclays as Group Financial Controller and later CFO of the Corporate and Retail Bank, as well as Acting Group CFO.
Richard Holmes, Chairman of Revolut UK, said:
“I am delighted to welcome Fiona and Peter to the Board of Revolut UK. Building a Board of experienced financial services talent to serve as Independent Non-Executive Directors is an important step as we seek a full banking licence to better serve the growing UK customer base.”
Sir Peter Estlin, commented:
“I’m thrilled to join Revolut UK’s Board at such an exciting time, as we continue to transform financial services and empower customers across the country.”
Fiona Fry, commented:
“Revolut UK is on a mission to be an innovator across the financial services. It is a great privilege to join the team and help deliver for our customers.”
Fiona is currently a Non-Executive Director and Chair of the Board Risk Committee at Aviva, as well as Chair of the Board Risk & Compliance Committee at AJ Bell plc. Sir Peter is currently Chair of Vanquis Banking Group plc; non-executive director, Rothschild & Co, Chairing the group audit committee and serving on group risk and remuneration committees.
London based Revolut is one of the world’s largest neobanks, boasting 45 million customers and $23 billion in client balances (as of June 2024), while operating in 38 countries. The company brought in Revenues of $2.2 billion in 2023, earning Net Profit of $428 million. Revolut is the most downloaded app in the Finance category in Europe, ranking first in 17 countries. Revolut is run by founder and CEO Nikolay Storonsky.
