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Revolut hires Deutsche executive amid plans to transform into a global bank

Revolut Ltd. appointed Deutsche Bank AG's global head of liquidity models and methodologies, Wolfgang Bardorf, as its new treasurer, reflecting the British financial technology startup's plans to transform into a global banking entity, the Financial Times reported.

The digital firm also appointed Philip Doyle director of financial crime risk and Stefan Wille deputy CFO, the publication said. Doyle was head of ClearBank Ltd.'s financial crime department, while Wille was senior vice president of finance at German fintech firm N26 GmbH, the FT added.

The hiring spree comes ahead of Revolut's further funding round expected to take place later in 2019 and is focused on recruiting employees with more experience in traditional banking, according to the report.