Why Revolut hired Société Générale's former chief
Revolut is betting big on government relations: why a fintech upstart just hired a banking veteran to conquer Europe
Max Levoshin
1 min read
Company stories often read like Hollywood plots
Revolut started out as the anti-bank startup, and now it's bringing on someone who spent 15 years running one of France's biggest banks, Societe Generale. Frédéric Oudéa, the bank's former CEO and now chairman of Sanofi, will head Revolut's Western European operations out of Paris.
Why hire a "banking dinosaur"?
Why is Revolut hiring a "banking dinosaur"?
The rules of the game are changing. Revolut plans to apply for a French banking license, pour a billion euros into its expansion, and make Paris its anchor point in the EU.
For that, you need someone who understands not just digital technology, but how bureaucracy and regulators actually work.
When GR matters more than a slick product
There's one thing the business world routinely underestimates. Past a certain point, the winner isn't the one with the sharpest product — it's the one who knows how to play the government-relations game. Oudéa knows the French system from the inside, every lever and every brake. Yes, he's the very embodiment of lumbering bureaucracy, but that's exactly what could become Revolut's key asset.
To make it into the major leagues, you have to know how to work within the system. Revolut is now putting that transition into practice.