Revolut wants a credit trader as its next CIO
The app-based bank, which was founded in 2015, is looking for a successor to Anton Pasiechnikov, who left to become CEO of payments company Wizz Financial at the end of last year.
Pasiechnikov worked at Revolut for three years but spent just eight months as CIO, having previously been deputy chief financial officer. He left shortly after Revolut appointed Mikko Salovaara, a 29-year old Yale graduate as its new CFO in April 2021.
In job posting on the fintech’s website, Revolut wants someone with strong experience in trading credit assets as well as previous experience in investment banking, private equity, investment funds or strategy consulting.
The CIO will be responsible for investing Revolut’s excess liquidity in a range of fixed income products, from corporate and government bonds to alternative assets and will report to Salovaara.
Salovaara’s remit is to steer Revolut to profitability. His background is in private equity, and he spent five years with 3G Capital, the investment firm known for its zero-cost strategy.
This might be an opportunity for an experienced trader to make a lot of money. The CIO will be awarded equity grants. Last year, Revolut became the biggest private technology company in British history when a $800m fundraising gave it a valuation of $33bn.
Salovaara is part of a young management team that also includes the bank’s 36 year old CEO Nik Storonsky, a former equity derivatives trader at Credit Suisse and his fellow co-founder Vlad Yatsenko, who is chief technology officer and worked as a senior software engineer at Credit Suisse. The team is completed by the 27-year old Alan Chang who is chief revenue officer and a physics graduate who joined straight from university.
The self-styled ‘super-app’ has brought experienced finance professionals on board with experience of dealing with regulators, with Martin Gilbert as chairman.
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