Revolut names new execs to lead its Singapore operations

UK-based fintech unicorn Revolut has named its new CEO, chief compliance officer, and head of growth in Singapore in a bid to build a fintech super app and ramp up its growth in the region.

Photo credit: Revolut

James Shanahan has been appointed as CEO of Revolut Singapore. He joined the company in March after serving as chief of staff for financial services firm Railsbank Technologies in Singapore and chief operating officer at Singlife.

In his new role, Shanahan will be leading the company’s local growth efforts as well as its expansion into wider Asian markets, according to a statement.

Revolut has also appointed Rayson Tan as chief compliance officer, chief risk officer, and head of legal in Singapore. Previously, Tan was managing director in the compliance and regulatory affairs department of Credit Suisse.

Pam Chuang, who most recently served as vice president of sales and partnerships at insurance comparison platform GoBear, was also named as Revolut Singapore’s head of growth.

Revolut’s operations in the city-state employ 30 people, according to the statement.

After securing US$500 million in series D funding earlier this year, the company said it was looking to expand its reach deeper into Asia.

“The goal is to build a global financial network, and Asian countries are critical nodes of that network,” Eddie Lee, Revolut’s Asia-Pacific regional director of operations, previously told Tech in Asia. 

The company has opened remittance routes to India, Malaysia, Indonesia, and the Philippines. Its suite of financial solutions also includes peer-to-peer money transfers, insurance, as well as savings and budgeting tools.

Revolut is not the only fintech major that has its eyes set on the region, however.

London-based peer TransferWise has been building several partnerships with local e-wallet operators, including Ant Financial-backed GCash and Dana, Gojek’s GoPay, and Grab partner Ovo.

It has also recently partnered with China’s Alipay to enable international money transfers to China, which is projected to be one of the top remittance recipient countries in the world.