Revolut has appointed Béatrice Cossa-Dumurgier as the
CEO of its newly established Western Europe headquarters in Paris, signaling
the fintech’s intent to strengthen its presence in the region and pursue a full
banking license in France.
The new office will serve as a regional base for
Revolut’s banking operations across Western Europe, complementing its existing
European hub in Lithuania.
Senior Hire to Anchor EU Expansion
The company said Cossa-Dumurgier will lead efforts to
expand operations and navigate the licensing process with the French banking
regulator, the Autorité de Contrôle Prudentiel et de Résolution (ACPR), and the
European Central Bank.
Cossa-Dumurgier joins from a background that includes
senior roles at BNP Paribas, McKinsey, and the French Ministry of Finance. She
also previously served as COO at BlaBlaCar and digital music firm Believe, and
was most recently a board member at Société Générale. She remains on the board
of Peugeot Invest.
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“Cossa-Dumurgier’s deep experience in traditional banking,
combined with her ability to drive high-growth trajectories, will be a key
asset in achieving regulatory integration and accelerating Revolut’s local
expansion, Nik Storonsky, Founder of Revolut, said.”
Eyeing Expansion in Europe
Revolut CEO Nik Storonsky said her appointment
reflects the firm’s ambition for digital banking operations in France and
Western Europe.
The Paris base forms part of Revolut’s dual-hub model
within the EU. Joe Heneghan reportedly continues to lead the Lithuanian-licensed entity,
while Cossa-Dumurgier now oversees Western Europe. Both report into the global
banking structure managed by Jajodia from Revolut’s London headquarters.
Revolut has continued to expand its services. It recently obtained a banking licence in Mexico. The approval from Comisión Nacional Bancaria y de Valores will now allow the company to establish itself as a bank in Latin America.
Last year, Revolut received its long-awaited UK banking license, marking a significant turning point for the London-based company after
a three-year application process. The Prudential Regulation Authority granted the license with restrictions, a common practice for new entrants to
the UK banking sector.
This article was written by Jared Kirui at www.financemagnates.com.
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