Revolut appoints JPMorgan's Kuba Fast as European bank chief
Revolut has appointed Kuba Fast, former CEO of Chase UK, to lead its European bank, Revolut Bank UAB. Fast will oversee the bank's operations across 30 European markets, pending regulatory approval. The move marks a significant expansion of Revolut's banking ambitions, following its recent UK banking licence.
Key points
- Revolut has appointed Kuba Fast, former CEO of Chase UK, to lead its European bank, Revolut Bank UAB.
- Fast will oversee the bank's operations across 30 European markets, pending regulatory approval from the European Central Bank and the Bank of Lithuania.
- Revolut Bank UAB received a full banking licence from the ECB in 2021, after launching in 2020 with a specialised bank licence in 2018.
- Fast is a notable catch, having led Chase UK and JPMorgan Europe Limited for seven years, before joining Revolut.
- The appointment is seen as a significant expansion of Revolut's banking ambitions, following its recent UK banking licence.
Revolut has made a significant move in its banking ambitions, appointing Kuba Fast, former CEO of Chase UK, to lead its European bank, Revolut Bank UAB. Fast will oversee the bank's operations across 30 European markets, pending regulatory approval from the European Central Bank and the Bank of Lithuania.
Revolut Bank UAB received a full banking licence from the ECB in 2021, after launching in 2020 with a specialised bank licence in 2018. The unit operates across 30 markets in the European Economic Area, a footprint that has drawn scrutiny even as it grew.
Fast is a notable catch, having led Chase UK and JPMorgan Europe Limited for seven years, before joining Revolut. His experience will be crucial in navigating the complex regulatory landscape and expanding Revolut's banking operations.
The appointment is seen as a significant expansion of Revolut's banking ambitions, following its recent UK banking licence. Revolut is now well-positioned to compete with established banks in the European market.
Sources
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