UK-based financial app Revolut has appointed Glauber Mota as its CEO in Brazil, as it prepares to launch in the Brazilian market.
Mota joins Felipe Lachowski, Brazil head of strategy and operations, who leads Revolut’s operations in the country.
Prior to Revolut, Mota worked at Latin American investment bank BTG Pactual, most recently as partner and COO of its digital retail unit, having held several senior executive roles at the wholesale bank and the private bank group business in Switzerland.
Mota’s initial focus as CEO of Revolut Brazil will be to build a team tasked with helping to lead its expansion in the country.
Nik Storonsky, CEO and co-founder of Revolut, said: “As Latin America’s largest market, Brazil is a key strategic priority of Revolut’s international expansion drive. We are pleased to welcome Glauber to our team.
“With his wealth of experience in the financial sectors and an outstanding track record, we’re delighted that Glauber is joining Revolut. Brazil is an important market in our expansion strategy with a huge supply of talent, and we’re excited to tap into that talent pool to help Revolut go from strength to strength.”
Currently, the Revolut app is available for Brazilians to subscribe to the waiting list to open a Revolut account.
“Brazilians are one of the most active digital populations worldwide, and the number of unique users of mobile devices in Brazil is already over 112 million people, with a rising number of people using digital banks as their primary account,” according to Mota.
“However, when travelling abroad and shopping online, Brazilians still need to use credit cards and currency exchange brokers, incurring high fees. This represents an enormous opportunity, and the Revolut product offering is unbeatable for Brazilians who continue to embrace e-commerce and begin to travel abroad again,” he added.
Earlier this year, Revolut hired a chief risk officer for the Americas, having launched in the US in 2020.