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April 6 2020

Revolut’s head of wealth and trading André Mohamed set for depart

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He was hired to lead wealth and trading products at Revolut, the $5.5bn challenger bank. Now he is set to leave the company after 18 months in the role.

André Mohamed is among everything else a former Freetrade co-founder. André Mohamed joined Revolut in November 2018, just weeks after the public launch of Freetrade, a rival share trading app. Then Revolut announced plans to launch trading in June 2018.

Related: CTO of UK challenger bank Monzo Meri Williams steps down

A person from Revolut said Mohamed’s departure was “all very amicable”. But Mohamed himself could not be reached for comment.

The digital bank has already started to look for Mohamed’s replacement. A job listing on its website said it seeks a London-based wealth and trading lead with a “strong background in retail investments”.

Revolut made some serious changes to its senior management teams just after enduring fierce criticism over an aggressive corporate culture during the first six months of 2019.

With that, City grandees Martin Gilbert, former co-chief executive at Standard Life Aberdeen, and Michael Sherwood, former CEO of Goldman Sachs International, have joined its board in recent months.

Read also: Revolut finally launches in the United States

Revolut came with its own trading feature in August 2019. That was with the help of Mohamed as the leader. And most recently, the feature saw the rollout of a gold trading offering, which is now available to all users.

This fresh exit at Revolut comes as the challenger bank takes on the US market, which will see it become a direct competitor of trading app giant Robinhood on its home turf.

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Sources: https://www.fintechfutures.com/2020/04/revolut-loses-its-head-of-wealth-and-trading-a-former-freetrade-co-founder/https://www.fnlondon.com/articles/revoluts-head-of-wealth-and-trading-set-for-exit-20200402https://www.altfi.com/article/6391_revoluts-head-of-wealth-and-trading-andr-mohamed-to-depart

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