The fast-growing digital bank has added a CEO, chief compliance officer and head of growth in Singapore, where it now employs over 30 people, it announced on Tuesday.
U.K.-based fintech Revolut has appointed James Shanahan as its Singapore chief executive officer, who brings more than 25 years’ experience with large banks, insurers and third-parties, particularly in Asia.
Shanahan, who joined Revolut in March, was previously Railsbank’s Southeast Asia chief of staff. Prior to that, he was chief operating officer for insurer Singapore Life, and held a variety of roles at Ataca, Avaloq, Axa, ANZ, and Standard Chartered. In his new role, he will be responsible for growing Revolut’s local business and expanding into wider Asian markets, a statement said.
His appointment follows the appointment of Martin Gilbert, the former Standard Life Aberdeen co-chief executive who sat on the MAS International Advisory Panel until early 2020, as chairman of Revolut’s board.
Compliance Risk Specialist Joins
Revolut also appointed Rayson Tan as chief compliance officer, chief risk officer and head of legal. He brings more than two decades’ experience in the field, and was most recently a managing director in the Compliance & Regulatory Affairs department of Credit Suisse.
Tan has also held various country, regional and global AML and sanction roles at Deutsche Bank and UBS.
Business Development Hire
Pam Chuang, the former vice president of sales and partnerships at GoBear, was appointed head of growth. She was part of the pioneer team at the Singapore-based financial supermarket, and was instrumental in scaling its reach across Southeast Asia and Hong Kong.
Before that, Chuang held leadership roles for companies including AIA Group, ReMark International, Saxo Bank and Aon.
Rapid Growth
Founded in 2015, Revolut launched in Singapore in 2019, where it operates a multi-currency wallet.
In February, it announced a $500 million series D raise led by Silicon Valley venture capital firm TCV, which it said will be used to improve existing products and services as well as expand its outreach outside of its U.K. base.
Earlier this month, Revolut announced that it had officially launched a bank in Lithuania, and will use the European banking license that it received for the operations there to start awarding loans, issue credit cards and open savings accounts.