Monday 16 March 2020 2:02 pm

Revolut finance chief steps down after five months

David MacLean is stepping down as chief financial officer of Revolut after just five months in the role. 

City A.M. understands that MacLean is leaving the company, which recently tied with Klarna as Europe’s most valuable fintech startup, for personal reasons. 

Read more: Former Goldman boss Michael Sherwood joins Revolut board

Revolut has appointed an interim chief financial officer, but has not yet appointed MacLean’s replacement. It is thought that MacLean will continue to support Revolut on key projects until the summer.  

Revolut declined to comment on MacLean’s departure. The digital banking startup, which recently closed a $500m funding round at a $5.5bn valuation, has recently revamped its leadership to bring in a host of finance veterans in a bid to overhaul its image. 

City veteran Martin Gilbert, a former co-chief executive of Standard Life Aberdeen was appointed the fintech’s inaugural chairman last year.

Revolut has also recruited former Goldman Sachs executive Michael Sherwood as a non-executive chairman, as well as appointing former Deloitte and Silicon Valley Bank executives to its board. 

Revolut increased customer growth by 169 per cent in 2019, according to figures from the company. 

Read more: Revolut closes $500m from early Netflix investor as it seeks to turn a new leaf

The fintech has said it will use the funds from its most recent raise to fuel its expansion, focusing on encouraging daily use of its personal and business accounts. 

It has also pledged to work on its customer service, having faced criticism for outages and claims it was failing to effectively communicate with customers. 

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