Fast growth digital bank Revolut has confirmed the appointment of London-based corporate communications specialist MHP, to act as its lead global public relations agency, as the company seeks to restore its reputation following media backlash concerning its management, operations and hiring processes.
Marketing news source PRWeek reports that moving forward Revolut’s UK and international communications will be handled by Mike Robb, MHP Director for Financial Services.
Founded in 2010, MHP is one of Europe’s leading public relations agencies, specialising in representing large-scale multinational enterprises and public institutions, with AMEX, L’Oréal, AVIVA, NATO and the NHS represented as MHP clients.
“MHP Communications will undertake a programme of proactive campaigns and media strategy to support Revolut in its next phase of international growth. This includes launching in North America and Asia as part of a long-term programme of international expansion” Revolut detailed in a statement confirming MHP as lead PR agency.
Revolut’s appointment of MHP, follows a tough opening to 2019 for the company, seeking to disrupt all components of standard banking transactions.
Despite hitting 4 million active customers at the start of 2019, Revolut management came under fire for breaching a UK Financial Conduct Authority (FCA) compliance and anti-money laundering controls.
Furthermore, a number of former employees disclosed personal accounts to UK media, of workplace bullying and unethical hiring practices during their tenures at Revolut.
The media onslaught would see, Revolut Founder and CEO Nikolay Storonsky publish an open letter to employees and stakeholders, admitting that a ‘toxic culture had developed during a period of intense growth for the start-up’.
Storonsky outlined that all Revolut internal processes with regards to management and hiring were being scrutinised and that the company would appoint independent directors to review progress and processes.
