Revolut plots push into private banking

The financial super-app has posted job listings for a private banking compliance manager, legal counsel and head of relationship management on its website.

States the relationship manager advert: “Our Private Banking team is the cornerstone of our exclusive new offering, driving long-term relationships with high-net-worth individuals across the globe. We operate with precision and expertise: from onboarding to ongoing financial guidance, we apply a solution-oriented approach and use our know-how to grow and nurture our high-value customer relationships.

“We’re looking for a Head of Relationship Management to lead our team of Relationship Managers, driving the strategy and growth of our private banking division.”

Alongside its plain vanilla retail financial services, Revolut‘s all-round banking app caters to the needs of of a cadre of young global professionals and business owners who may do most of their business with Revolut but go elsewhere to manage their assets.

A push into the private banking market will pitch Revolut into competition with a number of other WealthTech startups, such as London firm Sidekick and Swiss neobank Alpian, as well as with the large global incumbents.