The Head of Wealth and Trading at Revolut has left the company after almost three years at the neobank.
Sergei Riabov joined the London-based fintech in October of 2022 and was originally the Head of Product for the company’s Wealth and Trading division.
He was promoted at the start of this year to be Head of Wealth and Trading. That meant overseeing the company’s entire wealth and trading operations, strategy, and product development.
Prior to joining Revolut, Riabov worked for over five years at Tinkoff. In some ways Tinkoff was a forerunner of other fintechs that emerged in the last decade. The Russian bank was launched in 2006 and for a long time ran without any physical branches.
Riabov was one of the key developers of the bank’s trading offering. He was promoted a couple of times during his time at the company and was ultimately Head of Product for the Tinkoff trading division.
Can Revolut trading succeed alone?
One of the big changes for the Revolut trading product has been the launch of a standalone app.
Previously all trading and investment products were simply a part of the bank’s main application, proving cross selling opportunities.
The launch of a standalone app puts the company of more of a par with dedicated investment and trading platforms.
In Europe, the company has launched a range of products, including stocks, ETFs, CFDs, and robo advisory.
The main problem the company is likely to face as a result is branding and marketing. Most people are familiar with the company’s payments and banking app but to make the trading product work, they’ll have to get them to download an entirely separate app and create something like a separate brand for it.
