HSBC hired an MD that left banking for Revolut in Singapore
Revolut, more than most fintechs, has been able to attract talent from investment banks, but the flow isn't entirely one way. An MD whom Revolut hired from Credit Suisse four years ago, is leaving for HSBC.
Rayson Tan joins HSBC as its Singapore head of regulatory compliance. He served as chief risk officer, chief compliance officer and head of legal at Revolut for over a year in 2020, before moving to asset management firm Pictet where he's been since.
Revolut and Pictet couldn't be more different employers at face value. The latter previously hired Boris Collardi as a partner and CEO to modernize the firm before about-facing and letting him go to preserve the status quo. Revolut meanwhile has frequently given newer, younger employees disproportionate authority. HSBC is presumably a healthy middle ground.
Tan spent five and a half years at Credit Suisse's Suntec City office as the bank's APAC financial crime compliance co-head. He also had multi-year stints at both Deutsche Bank and UBS.
It's not just HSBC that's interested in Revolut people. In November, Barclays hired Revolut non-executive director Kitty Ussher, who worked on revamping its structure during is still-ongoing attempts to obtain a banking license. She is now Barclays' head of policy development in London.
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