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Revolut, a UK-based fintech startup that holds a banking license in Lithuania, has completed the formation of Revolut Bank's management board in Lithuania and has appointed a new CEO of its Ireland-registered subsidiary.
Revolut Bank completes formation of management board in Lithuania
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The management board includes CFO Jurgita Sauciuniene, previously CFO for Luminor Bank, and CRO Raimondas Berniunas, who previously held the same position at SEB Lithuania, Revolut said in a press release.

Also sitting on the board are Virgilijus Mirkes, who was appointed CEO of Revolut Bank in June, and British-registered Vladyslav Yatsenko.

Revolut says it is in the final stages of operationalizing its existing European EMI and Banking licenses in Lithuania. This will enable the company both to provide services to Lithuanian clients and to ensure the continuity of European services in the event of a hard Brexit.

Joe Heneghan, previously chief administrative officer at Ulster Bank, has been appointed as CEO of Revolut Payments Ireland Limited.

Revolut was issued a specialized bank license by the central Bank of Lithuania last December. The firm has announced its decision to push back the launch of banking activity in Lithuanian to the second half of 2019.

BNS
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