Martin Gilbert, non-executive chairman at the financial technology company Revolut, spoke to members of the Biz Club at their annual lunch at London’s Oriental Club.
Mr Gilbert told attendees of the rise of the British digital banking service that uses a mobile app that’s targeted at young tech-savvy users. He explained how it enables customers to transfer money abroad in 29 currencies with a pre-paid debit card that enables cash machine withdrawals in 120 countries. A crypto-currency exchange also allows users to convert currencies into Bitcoin, Litecoin, Ethereum, Bitcoin Cash or XRP and provides mobile phone and overseas medical insurance. The rise of the digital app, that works as an alternative to physical banks, has been referred by some as a “tech super star”.
Mr Gilbert announced in October 2019 that he would stand down from the board of Standard Life Aberdeen after running Aberdeen Asset Management for more than three decades. His significant entrepreneurial experience and executive leadership includes his position as non-executive director and senior independent director of Glencore plc. In addition, he is a member of the International Advisory Panel of the Monetary Authority of Singapore and the International Advisory Board of British American Business. From 2011 to 2018 he served as a non-executive director and also deputy chairman of Sky plc.
Biz Club President Geoffrey Pointon said: “I have known Martin for many years, and he is a colossus in the world of investments. Martin has enjoyed a long and distinguished career in the industry and is now exploring new and innovative technological advances that will transform the way we spend. While many of his contemporaries will be looking to take a back seat, Martin is set for his next adventure, supporting a remarkable three-year-old start-up company that is seeing 7,000 new accounts being opened daily with $3bn in transactions a month.