Revolut to recruit new team to expand wealth management offering

Core Insights - UK-based financial technology company Revolut is planning to establish a private markets team to enhance its wealth management services [1] - The private markets sector is growing, with major global exchanges looking into new products linked to the $16 trillion privately-held assets market [2] Group 1: Company Developments - Revolut is seeking asset managers, junior investment bankers, or private capital advisers to create private market fund investment options for its users [1] - The company currently serves nearly 70 million users, providing access to US and European equity trading through its app [3] - In November of the previous year, Revolut expanded its offerings to include British blue-chip stocks after acquiring a UK trading license [3] Group 2: Wealth Management Services - The introduction of a Robo-Advisor service in Singapore earlier this year aims to facilitate automated investing, simplifying the investment process for customers [3] - The Robo-Advisor allows users to invest in a diversified portfolio without extensive research or active management, catering to those with limited time or trading experience [4] Group 3: Industry Context - The private markets are becoming increasingly significant, but there are concerns regarding rising valuations, limited regulatory oversight, and broader economic factors that may increase risks in certain segments [2]