Revolut’s chief financial officer Mikko Salovaara departs
Revolut’s chief financial officer Mikko Salovaara has left the firm citing personal reasons after serving in the role for two years.
Revolut CFO Mikko Salovaara departs
Salovaara’s departure follows the exit of James Radford in March, who served as chief executive officer of banking at Revolut for three years, first reported by the Financial Times.
In an emailed statement, Salovaara says: “I am grateful for the opportunity to serve as group CFO at Revolut and remain confident in the firm’s future success.”
The news comes as Revolut continues its long wait for a UK banking licence, which it first applied for back in January 2021.
Last month, Revolut shareholder Schroders slashed the valuation of its stake in the neobank by almost half – suggesting $15 billion (£12 billion) could be wiped off Revolut’s $33 billion valuation.
The devaluation by Schroders came just weeks after Revolut released its long-awaited annual report for the year ending 31 December 2021, for which its auditor BDO reportedly flagged concerns about not being able to verify three-quarters of its revenue.
However, a Revolut spokesperson told Reuters at the time the bank’s stated revenue “was not in question” and that the auditor’s concerns were “remedied in 2021”.
