British neobank Revolut appointed former Société Générale CEO Frédéric Oudéa as its Western Europe chair.
Oudéa’s appointment comes four months after Revolut opened its Western Europe headquarters in Paris, SocGen’s hometown – and announced its intention to apply for a French banking license, making Revolut a direct competitor of SocGen’s digital bank, BoursoBank.
“Frédéric’s appointment marks a pivotal moment for Revolut in Europe,” Nik Storonsky, Revolut co-founder and CEO, said in a prepared statement seen by Banking Dive. “As a leader at Société Générale, he has steered one of Europe’s largest traditional banks while also championing innovation, turning Boursobank, among others, into a pioneer of digital banking in France.
“Attracting a leader of his calibre demonstrates how quickly the European financial landscape is evolving and reinforces our commitment to delivering innovative, customer-focused solutions at scale,” Storonsky said.
Oudéa’s SocGen career began in 1995 as the bank’s deputy head of corporate banking. His 15-year CEO tenure began in 2008, seven years before Revolut’s founding.
What started in 2015 as a platform through which to spend and transfer money internationally has grown into a chartered bank with 60 million customers across 160 countries.
“I'm a firm believer that Revolut is at the forefront of European retail banking, and it's for that reason I'm excited to join the team at a critical point in the journey towards becoming a fully-fledged banking institution,” Oudéa said in a prepared statement. “I want to thank Nik for his trust as I bring my experience to help guide Revolut through its next phase of growth across Western Europe, working closely with Béatrice and the entire team.”
Oudéa’s appointment comes as Revolut continues to assemble its board and its executive team, some of whom are SocGen alums. Revolut’s Western Europe CEO Béatrice Cossa-Dumurgier served on SocGen’s board of directors from 2023 until this year, and the neobank’s Chief Information Officer Jean-Sebastien Goetschy spent 12 years at the French lender.
Revolut’s group treasurer and chief investment officer, Michael Bine, is also a SocGen vet, according to his LinkedIn profile.
