US corporate card provider Brex applies for banking licence in Utah

This is the same licence US digital payments firm Square landed just shy of a year ago. Square had also applied for the licence in the Beehive State. Silicon Valley Bank’s former chief digital officer Bruce Wallace will head up Brex Bank as its CEO. Whilst Jean Perschon, UBS’s former chief financial officer (CFO) for its US arm, will now serve as Brex Bank’s CFO. In Brex’s FDIC application, it also says Doyle Arnold, Zions Bancorp’s ex-chief financial officer, will serve as the bank’s chairman.
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