Revolut hires banking heavyweights as new country CEOs

The banking challenger is making a big push into both Lithuania and Ireland.

Revolut has made a raft of new senior hires including two new CEOs for its operations in Ireland and Lithuania.

It has appointed banking veteran Virgilijus Mirkės as CEO of Revolut Lithuania, where it holds a banking license, alongside a new CFO, CRO, CTO and a range of other roles in Compliance, AML, Credit and Treasury for the country.

Revolut has also hired Ulster Bank Chief Administrative Officer, Joe Heneghan, as CEO of Revolut Ireland.

Mirkės is now responsible for Revolut’s overall operations in Lithuania including recruiting and co-managing its team in Vilnius, working with senior management to define and implement the European strategy for Revolut’s regulated entities, primarily focusing on payment, deposit and credit products, and developing a strong relationship with regulators in Lithuania and beyond.

He was previously CEO for SEB Investment Management and Head of Capital Markets for SEB, as well as spending 3 years in Canada with Scotiabank Technology Application Group. 

Other senior executives in the leadership team include Jurgita Šaučiūnienė, CFO, who has 20 years’ banking experience including CFO for Luminor Bank, and Raimondas Berniūnas as CRO, with 20 years’ banking experience, previously Head of Risk at SEB.

Revolut says it is in the final stages of operationalising its existing European EMI and Banking licences in Lithuania, with these entities preparing to provide services to Lithuanian clients, as well as providing a contingency option for European services in the event of a hard Brexit.  

Revolut has now hired 62 roles in Lithuania in 2019 to date.

Heneghan will be responsible for building Revolut’s business in the Republic of Ireland. While Revolut progresses its application for relevant Irish regulatory licenses, he will also be the in-jurisdiction point of contact for the regulator and relevant stakeholders, responsible for building trusted relationships.

He brings over 20 years’ banking experience to Revolut. He spent 14 years at Ulster Bank in senior roles such as Head of Risk Management, Director of Customer Experience and Products, and most recently Chief Administrative Officer. In his role at the third largest commercial bank in  

Richard Davies, Revolut’s Group Chief Operating Officer said: “As we continue to implement our expansion strategy to bring great value and amazing digital experience to fit customers globally, it’s vital that we build the strongest teams with the best skills and experience to deliver this.  As banking veterans, Virgilijus and Joe come with a huge amount of experience growing businesses in highly regulated environments as well as building solid relationships with regulators. We’re really pleased to have them on board.”

Revolut has raised approximately $340m in funding, from notable venture capital firms including Index Ventures, Ribbit Capital, Balderton Capital and DST Global.