Revolut is building Private Banking services in Switzerland.
In addition to signals that it's setting up a dedicated banking team in Switzerland and plans to apply for a local banking licence, Revolut’s job advert for Head of Legal (Swiss Private Bank) reveals that the company intends to compete with the likes of UBS and offer Swiss Private Banking and wealth management services.
Job responsibilities include preparing customer-facing documents, providing day-to-day advisory on trading and investment products, and handling the marketing and promotion of those products.
Requirements include: 10 years of experience in wealth and trading, plus strong expertise in advising on Switzerland’s Financial Services Act (FinSA), Financial Institutions Act (FinIA), Anti-Money Laundering Act (AMLA), and Banking Act (BA).
This is the first concrete indication of Revolut’s private banking plans in
#Switzerland.
The company had earlier indicated that its private banking service is planned to roll out first in the EU, then in the UK, probably in 2027.