Revolut hired more than 50 veteran executives. Only two worked out.
The founder says veteran stars are often past their prime or already out of reach, so he looks for fast risers.
David Senra · Competition, Intensity & Building a $115 Billion Global Bank | Nik Storonsky, RevolutInvestors kept giving Nik Storonsky the same advice as he built Revolut. Bring in experienced executives to professionalize the company.
Storonsky listened. The founder of Revolut, the digital bank, hired probably more than 50 seasoned executives in the first five years. Within about a year, he said, only two were left.
The result convinced him the advice was dangerous and simply wrong for the company. He now bets instead on people around 25 to 30 years old who are climbing unusually fast.
What he looks for is career progression in the top 1% compared with peers. His bet is that they will continue on the same steep trajectory inside Revolut.
His explanation starts with timing. Like soccer players, he said, executives have a prime, and it passes. Priorities change, skills slip, and markets move.
Someone with a strong record from years ago may not fit what the company needs next. Past success, he argued, can go stale as times and competition change.
He also sees a trap in the hiring pool itself. Truly exceptional executives, he said, are rarely available because they have already made it.
They are running their own businesses, or they have retired, or they have moved on. The experienced managers left in the market are, by definition, not those fastest climbers.
That is what he calls negative selection. The longer resume can signal the weaker candidate, not the stronger one.
The clash became personal over his best performer. An investor pressed him to fire the man for being too hardcore and not working nine to five. Storonsky refused.
He said no, he kept the employee, and the investors backed down. He had stopped treating experience as proof that someone was good.
Questions people ask
What does top 1% career progression actually mean?
He means people who have been promoted faster, given larger responsibility earlier, or otherwise advanced ahead of almost everyone who started at the same time. He treats that slope as more predictive than years of experience or a senior title.
Do younger, fast-rising hires generally do better than veteran executives?
Research finds mixed results. Outside hires can bring useful skills and contacts, but they often struggle with a new culture and systems. Many companies find that strong internal performers adapt faster, which is consistent with what Storonsky describes.
What is the risk of avoiding experienced executives entirely?
It can. Inexperienced managers may lack judgment in regulated areas, hiring, and crisis management. Storonsky himself added experienced capacity in areas like regulatory affairs when that became a bottleneck for Revolut.