Revolut names Singapore advisory board to aid Asia push

Revolut has appointed a Singapore Advisory Board, bringing together three senior figures from government, banking and corporate governance.

The panel comprises former minister Teo Ser Luck, former Founding Chief Executive Officer of GXS Bank Singapore Charles Wong, and Yvonne Aw, who has held board, audit and risk committee roles across financial services.

The advisory board will provide strategic guidance to Revolut's Singapore leadership team on governance, regulatory engagement, business strategy and sustainable growth. It adds a formal local layer of oversight as Revolut seeks to expand in Singapore and the wider Asian market.

Singapore is a key market for the fintech group, which says it has more than 80 million retail customers and hundreds of thousands of business customers worldwide. Revolut described the advisory board as part of its longer-term plans in the city-state and across the region.

Board roles

Teo brings experience from public office, business and professional bodies. He previously served as Minister of State for Manpower and Trade & Industry and later became president of the Institute of Singapore Chartered Accountants, serving from 2022 to 2026 before taking on an adviser role.

His background gives Revolut access to detailed knowledge of Singapore's policy and business environment. He is expected to help strengthen engagement with public and private sector stakeholders and support standards in local operations.

Wong brings more than 25 years of experience in retail banking, global markets and digital banking. He was the Founding Chief Executive Officer of GXS Bank Singapore and previously held senior roles at Citibank, including Managing Director and Head of Retail Banking Singapore, alongside regional responsibilities in retail banking and global markets.

He now leads the Retail and Digital Banking practice for Asia at Simon-Kucher. His experience is expected to inform Revolut's decisions as it develops its financial services offering in Singapore and elsewhere in the region.

Aw brings expertise in governance, audit, financial services and risk management. She currently serves as an Independent Non-Executive Director and Chairman of the Audit & Risk Committee at Sompo Insurance China.

Her work has included board leadership, regulatory oversight and enterprise risk management. That experience is expected to strengthen Revolut's governance, risk and control structures as the business expands.

Regional push

The appointment comes as financial technology groups continue to invest in Singapore as a base for regional operations. The city-state has attracted digital banks, payment providers and asset platforms with its strong regulatory framework and role as a financial hub for Southeast Asia.

For Revolut, the emphasis on governance and regulatory engagement points to a focus on building local credibility alongside growth. The board is intended to support its leadership as it broadens its product offerings, invests in local talent, and uses Singapore as a base for work across Asia.

The board's composition also reflects the issues fintech companies face as they scale in regulated markets. Banking expertise can help shape product and operating decisions, while experience in government and risk oversight can support regulatory engagement and internal controls.

In Singapore, where authorities have taken a close interest in operational resilience, anti-money laundering controls and risk governance, those areas carry particular weight for financial firms seeking to grow. Revolut's decision to create an advisory board rather than rely solely on management indicates a desire for external input as it deepens its local footprint.

Regional leadership framed the announcement with a broader statement of intent.

"Singapore is the engine of our growth strategy in Asia," said Raymond Ng, Chief Executive Officer of Revolut Singapore and Southeast Asia. "As we expand across the region, strong governance, operational controls and risk management remain a top priority. We are strengthening our local operating model to ensure robust oversight as our business grows. Ser Luck, Charles and Yvonne bring deep expertise across public policy, banking, governance and risk management. Their collective experience will strengthen local accountability and governance, while supporting our long-term growth and commitment to the high standards expected of a trusted financial institution."