The CEO of Monzo has stepped down after five years in post, to be replaced by a former Google executive.
Banking veteran TS Anil took over the top job from Monzo cofounder Tom Blomfield in 2020, following a rocky period for the UK neobank, which today boasts more than 13m customers and £16.6bn in deposits.
Anil will be replaced by Diana Layfield, a former Google exec who spent almost a decade at the tech giant.
In a statement issued to Bloomberg, Anil said: “It’s always been my belief that great leaders make way for others. It’s something that’s been done before at Monzo when the baton was handed to me, and it’s why the business will continue to go from strength-to-strength under Diana’s leadership.”
Behind the scenes, Monzo is said to be gearing up for a blockbuster IPO, which could value the company at as much as £6bn, although some industry experts have questioned that price tag.
“TS has led with values and integrity throughout and has nothing but my gratitude and respect for all that he’s achieved and the brilliant foundations that have set Monzo up for the future,” said Gary Hoffman, chair of Monzo’s board, in a statement.
