logo
Revolut kicks off recruitment drive in Western Europe

Revolut kicks off recruitment drive in Western Europe

Finextra28-07-2025
Revolut has kicked off a recruitment drive for 400+ roles in Western Europe after announcing plans to invest more than $1 billion to establish a new HQ in France over the next three years.
0
Following the recent appointment of Béatrice Cossa-Dumurgier as CEO Western Europe, Revolut is launching a major recruitment drive across the region.
Over 400 roles are set to be opened in France, Spain, Italy, Ireland, Germany, and Portugal over the next few years, spanning compliance, risk management, and other key functions — with at least 200 of those roles based in France.
In parallel, approximately 600 existing Revolut employees will progressively transition to the French entity once it has been established, particularly in customer support, credit, and product functions to support the development of new features, including mortgages and business loans in the region.
The ramp-up intends to begin with around 80 new hires in the first year and scale to over 400 direct roles by 2029. Combined with continued operational support from the wider group, more than 1,500 employees will be dedicated to Revolut's French banking entity by the end of the decade.
Further leadership team executive appointments will be announced later this summer. These recruitment efforts are taking place in parallel with Revolut's ongoing application for a banking licence in France.
Cossa-Dumurgier says: 'We're already hard at work building our new Western Europe headquarters in Paris - and that comes with a major hiring push across the region. Western Europe is home to a massive pool of talent, and we intend to make the most of it - attracting top professionals eager to shape the future of banking and build the next generation of financial services.'
Revolut reported bumper growth for the full year 2024, driving pre-tax profits to $1.4 billion and net profit at $1 billion.
The fintech super app is reportedly in talks to raise around $1 billion at a valuation of $65 billion by issuing new shares and selling existing ones.
The firm was last valued at $45 billion in 2024 after selling shares on the secondary market.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

White House readies order to fine banks for dropping clients over politics, WSJ reports
White House readies order to fine banks for dropping clients over politics, WSJ reports

Reuters

timean hour ago

  • Reuters

White House readies order to fine banks for dropping clients over politics, WSJ reports

Aug 4 (Reuters) - The White House is drafting an executive order that would impose penalties on banks for dropping customers for political reasons, the Wall Street Journal reported on Monday. Citing a draft of the order, the Journal said regulators would be instructed to investigate whether any financial institutions breach the Equal Credit Opportunity Act, antitrust laws or consumer financial protection laws. The order, which could be signed as early as this week, would authorize monetary penalties, consent decrees or other disciplinary measures against violators, the Journal reported. It also calls on regulators to strike policies they have that might have contributed to banks dropping certain customers and requires the Small Business Administration to review the practices of banks that guarantee the agency's loans, according to the report. U.S. President Donald Trump in January said the CEOs of JPMorgan Chase (JPM.N), opens new tab and Bank of America (BAC.N), opens new tab did not provide banking services to conservatives. The two banks denied making banking decisions based on politics. The criticism of Wall Street banks followed accusations from congressional Republicans and Republican-led states, who claimed the institutions were engaging in "woke capitalism" and unfairly cutting ties with gun manufacturers, fossil fuel companies, and other businesses perceived to be aligned with the political right. The Trump administration is pursuing a broad reform agenda aimed at modifying rules governing financial institutions, including capital requirements, arguing that such action will boost economic growth and unleash innovation. The White House did not immediately respond to a Reuters request for comment.

Australia's TPG Telecom to return $1.94 billion to shareholders after Vocus asset sale
Australia's TPG Telecom to return $1.94 billion to shareholders after Vocus asset sale

Reuters

time4 hours ago

  • Reuters

Australia's TPG Telecom to return $1.94 billion to shareholders after Vocus asset sale

Aug 5 (Reuters) - Australia's TPG Telecom ( opens new tab said on Tuesday it was planning to return A$3 billion ($1.94 billion) to shareholders from the cash proceeds of its recent sale of fibre and fixed network infrastructure assets to Macquarie-backed ( opens new tab Vocus Group. The telecom firm finalized its A$5.25 billion transaction with Vocus in July, generating net cash proceeds of A$4.7 billion. It is offering minority shareholders an opportunity to reinvest their capital reduction proceeds into company shares, aiming to mitigate any reduction in free-float market value resulting from the shareholder payout. The reinvestment plan is expected to raise A$688 million, lifting the company's free float to about 30% from 23% at current share prices. The company said it plans to repay up to A$2.4 billion in bank borrowings, using A$1.7 billion from the Vocus deal and A$688 million raised through the reinvestment plan. "We anticipate strong free cash flow generation over the coming years due to service revenue growth, operating cost efficiency, capital expenditure reductions, and lower borrowing costs," said CEO and managing director Iñaki Berroeta. TPG, which reported net debt of A$6.26 billion in its latest annual report, expects lower annual earnings for fiscal 2025, as contributions from the divested fibre and fixed network assets will no longer be included. The company now expects Pro Forma EBITDA for fiscal 2025 in the range of A$1.61 billion to A$1.66 billion, down from its previous estimate of A$1.95 billion to A$2.03 billion. ($1 = 1.5456 Australian dollars)

First four EVs to qualify for government's new electric car grant revealed
First four EVs to qualify for government's new electric car grant revealed

Daily Mail​

time4 hours ago

  • Daily Mail​

First four EVs to qualify for government's new electric car grant revealed

It's three weeks since the Government announced its new electric car grant to incentivise private buyers to move to all-electric vehicles - and now we finally know some of the models to see prices slashed. It has revealed the first four models to receive part of the £650million electric car grant for models under £37,000 - and they're all from a French brand. Citroen is the first manufacturer to have EVs officially pass the Government's stringent technical and environmental sustainability criteria: The e-C3, e-C4, e-C5 and e-Berlingo van will each receive £1,500 off - the lower Level 2 grant band available. The ECG discount will be automatically applied from today, 5 August, which Citroen says will mean that 'six models in its electric passenger car line-up are now priced under £36,000'. The Government's ECG offer - which comes three years after the previous government axed its Plug-In Car grant - is tiered so the amount available per vehicle (on or under the £37,000 price cap) will depend on the level of emissions associated with the production of the vehicle; the most sustainable get £3,750, less sustainable models get £1,500. Those that don't qualify at all will get £0. Greg Taylor, managing director of Citroen UK, said: 'At Citroen we want everyone to have the opportunity to make the switch to an electric car. 'We welcome the support of the electric car grant and are delighted to be the first to have vehicles in our electric range, including the New e-C3, New e-C4, New e-C5 Aircross and e-Berlingo, approved and eligible.' With the £1,500 ECG applied, the new e-C3 is now available from £20,595, the new e-C3 Aircross starts at £21,595, and the New e-C5 Aircross can be acquired from £32,565. The e-Berlingo (M versions only) van will now cost from £29,740. While the four models have qualified for the Level 2 £1,500 support it is not clear why they did not receive the full Level 1 £3,750 support. The Department for Transport confirmed to This is Money that Citroen had submitted the required evidence and demonstrated their vehicles meet the second highest environmental sustainability standards. But when pressed why Citroen failed to meet the criteria to receive the full £3,750 grant amount the DfT said it couldn't comment on individual manufacturer's specific applications. The electric car grant has received a lot of backlash for its head-scratching sustainability criteria that sees manufacturers rewarded for 'the highest manufacturing sustainability standards'. The Government says its framework for sustainably produced cars 'is in recognition of the need to address embedded carbon emissions across a vehicle's lifetime, as well as tailpipe emissions'. At a minimum this means the manufacturer must hold a verified science based target, verified by the independent Science Based Targets Initiative. Emissions from vehicle production are then assessed against the carbon intensity of electricity grid in the country where vehicle assembly and battery production are located. Instead of releasing a list of manufacturers and models that qualify alongside the announcement by Transport Secretary Heidi Alexander in July, the Government has asked car makers to apply for qualification and is processing applications as fast as manufacturers can file them. This has led to a significant number of automakers releasing their own grants - of between £1,500 and £3,750 - until they hear whether their models will receive an official Government subsidy. It's widely suspected that no Chinese EV maker, or South Korean, will be granted either Level 1 or Level 2 subsidies after Transport Minister Lilian Greenwood told BBC Radio 4's Today programme: 'We don't expect any cars that are assembled in China to be eligible for this scheme.' While EVs have zero tailpipe emissions, there's currently the downside of raw material mining for battery production which is one of the areas the Government will be looking into as it accesses manufacturer' sustainability practices While this remains up in the air, the Government has confirmed that 'more models are to follow in the coming days and weeks' off the back of the Citroen announcement. Transport Secretary Heidi Alexander said: 'With the first four models approved today and more to come over the next few weeks, this summer we're making owning an electric car cheaper, easier, and a reality for thousands more people across the UK.' RAC head of policy Simon Williams also said that 'it's a real boost for electric.' He added: 'It's great to see the first qualifying models announced for the Government's new electric car grant. 'Not only does this mean more drivers will benefit from the lower cost of running an electric vehicle, but it's hopefully the sign of more to come from other manufacturers in the weeks ahead.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store