Revolut hired another fixed income banker
Revolut, the London-based app bank, has made another hire from investment banking.
Vedanta Bagchi joined as the global head of structured credit at Revolut’s London office after 11 years with Commerzbank. He spent most of his time at the German bank as a portfolio manager too, transitioning from an M&A advisory role in 2014.
In a statement, Revolut told us Bagchi was hired into a new role to, "invest balance sheet capital in securitisation and structured credit assets."
It's not the first time that Revolut has hired someone with an investment banking background. Last year, it recruited Michael Bine, the former global head of FIC trading at SoGen as its chief investment officer.
Revolut is hiring even while other fintechs cut staff. As we reported this week, the company has increased headcount 114% in the past year and receives 40 applicants per position; its graduate scheme, which was launched last month, already has 1700 applicants for its ten open positions.
If that number strikes you as “competitive”, expand your vocabulary. That’s more applicants per role than Goldman Sachs, JPMorgan, or even the infamous Blackstone graduate scheme, which has a comparatively measly 150 applicants per role.
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