Revolut named banking veteran Frédéric Oudéa as chairman of its Western Europe operation, as reported by Bloomberg (article behind paywall).

The move comes as the $75 billion fintech scales up its Paris hub, where it is seeking a French banking license, hiring up to 200 staff, and planning a €1 billion investment.

A SocGen Veteran

Oudéa, who led Societe Generale for 15 years after the global financial crisis, said the role offered a «good opportunity to take part in a new venture» at a firm with both the technological and financial resources to succeed. Revolut aims to double its French customer base to 10 million next year and is preparing to roll out mortgages and savings products in the country.

Globally, the neobank now serves about 60 million customers, more than HSBC, with revenues rising 72 percent last year to £3.1 billion. Its French license bid adds to existing EU-wide authorization from Lithuania, while its UK banking license has remained subject to regulatory guardrails since 2024.

No Changes in Switzerland

Despite Mr. Oudéa's being labeled as Western Europe chairman, Revolut, which is rumored to be seeking a Swiss banking license as well, told finews.com in an email that the new setup in France will not affect the set-up and operations in Switzerland for the time being: «For our Swiss customers nothing changes for now.»

Revolut’s Western Europe board is being finalized and so far includes: Frédéric Oudéa as chairman, independent member Brigitte Cantaloube, Western Europe CEO Béatrice Cossa-Dumurgier, group risk & compliance chief Pierre Décoté, group banking chief Siddhartha Jajodia, and independent member Pascal Pincemin.