Revolut CFO Departs After Two Years within the Function

LONDON (Reuters) – Fintech agency Revolut stated on that Thursday Chief Monetary Officer Mikko Salovaara is leaving the corporate, after two years within the function.

The 31-year-old government, who joined the London-based start-up in 2021, had resigned “for private causes”, a spokesperson for the corporate stated.

The corporate has not stated who will change Salovaara.

Revolut is in search of to attract a line after a number of tumultuous months. In March, audit agency BDO issued a so-called certified opinion for the agency’s 2021 accounts wherein it cautioned that some data associated to income might have been “materially misstated.”

The warning drew scrutiny from regulators, inflicting additional delays in Revolut’s plan to safe a UK banking licence, Reuters reported in April. The corporate utilized for a banking licence about two years in the past.

Salovaara had beforehand stated that the agency was “on the very ultimate stage of the method,” and that its relationship with UK regulators has been “affordable”.

Britain is a key marketplace for Revolut, which goals to turn out to be a worldwide monetary agency.

“I thank Mikko for his contribution and want him nicely on his subsequent steps,” Chief Government Nikolay Storonsky stated in a press release.

The Monetary Occasions reported Salovaara’s departure earlier on Thursday.

(Reporting by Stefania Spezzati; Modifying by Susan Fenton)

Copyright 2023 Thomson Reuters.