Revolut is taking steps to establish private banking and wealth management services in Switzerland. The company has reportedly formed a separate banking team in the country and plans to obtain a local banking license.
Revolut is reportedly aiming to compete with big banks such as UBS in the Swiss market. The company’s job posting for the position of “Head of Legal (Swiss Private Bank)” includes drafting client documents, providing legal advice on investment and trading products, and promoting these products.
Candidates are required to have at least 10 years of experience in wealth management and trading, as well as a deep knowledge of basic Swiss financial laws.
The move is seen as the first concrete signal of Revolut’s plans for private banking in Switzerland. The company had previously announced plans to launch these services first in the European Union and then in the UK.
