Revolut Singapore loses heavyweight compliance chief

PAYMENTS firm Revolut has lost its heavyweight compliance chief in Singapore just about a year after the ex-Credit Suisse banker joined the fintech.

Checks by The Business Times found that Rayson Tan, formerly the chief compliance offer, chief risk officer and head of legal at Revolut Singapore, left the firm in October.

His departure comes just six months after he was made chief risk officer and head of legal in April 2020, and a little over a year since his appointment as chief compliance officer in September 2019.

With over 20 years of financial services experience in international banks, Mr Tan was one of Revolut's most senior hires.

In response to queries, a Revolut spokesperson told BT that Mr Tan had left to "pursue other opportunities". "We are always happy for colleagues who have moved on to other roles as this is an affirmation of their talent. We wish Rayson success in his new role," he said.

The firm's senior counsel, Shulin Tay, and head of risk and compliance, Celestia Tan, are sharing Mr Tan's duties in the interim.

Mr Tan has since joined Pictet Group as its new chief risk officer for Asia, according to his LinkedIn profile.

Prior to his brief stint at Revolut, he was the managing director in the compliance and regulatory affairs department at Credit Suisse, and has extensive experience in building and leading compliance programmes in financial services across investment banking, private banking, corporate banking, as well as asset management. He also held compliance and anti-money laundering roles at Deutsche Bank and UBS.