Revolut has been more successful than other fintechs in attracting talent from investment banks, but the flow is not entirely one-way. The MD that Revolut hired from Credit Suisse four years ago is leaving to join HSBC.
Mr Rayson Tan joins HSBC as Head of Regulatory Compliance in Singapore. He spent more than a year at Revolut in 2020 as Chief Risk Officer, Chief Compliance Officer and Head of Legal, before moving to wealth management company Pictet, where he currently remains.
Click here to sign up for our Fintech newsletter 🤖
At face value, Revolut and Pictet are very different employers. The latter previously hired Boris Coraldi as partner and CEO to modernize the company, then pivoted and fired him to maintain the status quo. Meanwhile, Revolut has frequently given disproportionate powers to new and junior employees. HSBC is probably a healthy middle ground.
Mr. Tan spent five and a half years at Credit Suisse’s Suntec City office as co-head of the bank’s Asia Pacific financial crime compliance. He also spent multiple years at both Deutsche Bank and UBS.
HSBC is not the only company interested in Revolut people. In November, Barclays hired Kitty Asher, a non-executive director from Revolt, to overhaul its organization while the bank’s bid to obtain a banking license continues. She is currently Head of Policy Development at Barclays in London.
Have a secret story, tip or comment you’d like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Telegram: @SarahButcher. Click here to fill out the anonymous form, or email editortips@efinancialcareers.com. Signals are also available.
Please feel free to leave a comment at the bottom of this article. All comments are moderated by humans. Sometimes these people might be asleep or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or defamatory (in which case it’s not)..
Photo by Hu Chen on Unsplash