Revolut has appointed Francesca Carlesi, a fintech entrepreneur and former executive at Deutsche Bank and Barclays, as its new UK chief executive, as the company continues its pursuit of a banking licence.
Carlesi brings over 15 years of expertise in finance, banking, and fintech to the role. She is the co-founder and former CEO of Molo Finance, the UK’s first digitally native mortgage lender, a position she held until stepping down earlier this month after ColCap Financial acquired an 80% stake in the firm.
Before founding Molo, Carlesi served as chief of staff and global head of regulatory affairs at Deutsche Bank for five years, an experience that will be beneficial in her new position at Revolut. Her career also includes time at Italian bank Intesa Sanpaolo and a role as head of strategy and business planning at Barclays.
Her appointment comes as Revolut faces a prolonged wait—over two years—for a UK banking licence. The fintech company has encountered several challenges, including a series of high-profile departures from its compliance team and a missed deadline for filing its annual accounts for the second consecutive year.
However, Revolut recently reached an agreement with its primary backer, SoftBank, regarding a change in shareholding, which has resolved a significant hurdle in its quest for the UK banking licence.
Richard Holmes, Chairman of Revolut UK, commented on the appointment, stating, “As we continue to build out our leadership team, her extensive experience across the banking and fintech sectors makes her the perfect CEO to drive our UK business forward. With her background as a fintech founder and her extensive banking industry experience, Francesca understands what it takes to challenge traditional banking incumbents, and I look forward to celebrating her successes in the coming months.”