Revolut’s Richard Davies moves to Allica Bank as the new CEO

Allica Bank has announced the appointment of Richard Davies as its new chief executive officer.

Allica Bank is a recently launched business bank that seeks to empower small and medium-sized businesses. Richard Davies will be responsible for leading the Bank as it has the ambition to become a major force in serving British businesses, delivering the funding, technology, and expertise needed at what is a crucial time for the British business sector.

Read also: Revolut raises $80m in new funding as it extends Series D round to $580m

Davies has various experiences from banking and FinTech as he is joining from Revolut, where he led its global banking proposition, including establishing new leadership teams and operations in Ireland, US, Australia and Singapore; launching Revolut’s bank in Europe, and progressing Revolut’s plans in the UK.

Richard Davies has also previously held senior roles with TSB, HSBC, OakNorth Bank and Barclays.

In 2013/14, as the first chief executive of OakNorth, Davies developed the business model, technology, and successful regulatory license application.

Richard Davies, the CEO elect, Allica Bank, said: “The world as we know it is changing fast and it’s the companies who can blend innovative technology with real human expertise, who will thrive and add real value for their customers. It is for that reason I am delighted to be joining Allica Bank. I strongly believe we have the talent, experience and commitment to support British businesses through these uncertain times.”

“Now, perhaps more than ever, is when financial institutions need to step up and be counted on behalf of the customers that need them. In my career I have worked for some of the largest established banks and fastest-growing challengers, I am excited to be continuing in that vein as I move from one of the most disruptive fintechs to the bank that I believe can transform business banking in the UK,” he added.

John Maltby, Chairman, Allica Bank, said: “It is with great pleasure that I am able to today announce the appointment of Richard Davies as CEO of Allica Bank. As a respected leader and innovator of business banking and fintech, Richard’s appointment is a testament to Allica Bank’s progress, since securing our banking license in September 2019.

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