Ex-Goldman Sachs MD quits Revolut and London for Italian bank

Not everyone has been a managing director at Goldman Sachs and an executive at Revolut, the fintech with a reputation for grind, achievement and filing late accounts.  One of the rare few to have done both has found a new gig, and it's somewhat unexpected.

Paolo Re joins Italian investment bank Intesa Sanpaolo in Milan as its head of debt capital markets (DCM), having spent the past eleven months as Revolut's head of financial institutions in London. Re spent the bulk of his career, over 16 years, at Goldman, working in the financing group as well as in DCM and derivatives.

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Re's departure from Revolut may seem a bit premature but, considering the average tenure at Revolut is just 1.1 years, it's come only a few months earlier than the norm.

He's not the only Goldman alumnus to have joined the Turin based bank this month, either. Luca Rusconi, Intesa Sanpaolo's new head of structured AM, investments and listed products, spent 14 years at Goldman and was an executive director there. Rather than leave for fintech, he spent over three years as a director at hedge fund Man Group then five and a half at Dutch asset management firm Robeco.

Revolut meanwhile has been experiencing some setbacks already this month. The UK's financial conduct authority is reportedly probing Revolut over suspicious accounts involved in transactions, and the fintech is already under fire for filing late accounts for the second year running. 

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