Revolut is opening a new Paris office after a big SocGen hire
After building out its French team in the past 12 months, app-based bank Revolut has occupied a new Paris office.
Revolut has been in France since 2017, but it closed its Paris office in 2020 during the pandemic. In 2021, the entire company switched to permanent flexible working. A spokesperson said the new Paris office, which is based in a WeWork with views over the Sacré-Coeur, is for colleagues who want to be flexible and who go into the office from time-to-time while remaining remote based.
Revolut has hired 70 people for its French office in the past year, nearly doubling its size. They include Michel Bine, the former global head of FIC trading at SocGen. Bine left SocGen after 12 years in March 2020 and quietly joined Revolut as chief investment officer in April 2022. In May, Revolut also hired Franck Firat Koksel, a new France-based head of people strategy from McKinsey & Co., plus Baudouin de Fréminville, a credit operations manager from Oliver Wyman, and a financial crime analyst who worked for SocGen until September 2021.
Revolut is still hiring in France. The bank currently has 19 open jobs which list remote French work as a possibility, including positions in business development, data, credit and compliance.
Revolut has a reputation as a hard-driving place to work. However, it also has a reputation for offering employees flexibility, so long as they get the work done. Many of its French hires work outside Paris, in cities like Lyon.
As less established fintechs struggle in the new funding environment, Revolut may look like a safe option. The bank made cuts in Warsaw during the early days of the pandemic, but continues to expand in 2022 after raising $800m in funding from Softbank and Tiger Global (neither of whom are doing well right now) last year. Bloomberg noted in Mary that Revolut has yet to achieve a banking license for the UK and that this is holding up the licensing process in America. In Europe, it's licensed through a subsidiary in Lithuania.
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