Monzo CEO Tom Blomfield to step down

Tom Blomfield will step aside from day to day executive leadership of digital challenger bank Monzo, becoming its president.

The digital bank’s newly minted US CEO TS Anil will take over from Blomfield running day to day operations.

Anil joined Monzo from Visa at the end of 2019, where he was latterly Global Head of Products and Platforms at the US financial services company.

Anil has over 25 years’ experience in payments, credit cards and banking, working globally across EMEA, APAC and Americas. [Altfi]

The thinking behind Blomfield’s move to president is a startup cliché but also likely holds water; he’ll be able to spend more time doing the things he enjoys most (and is arguably best at), such as focusing on the longer-term vision, product and how Monzo can stay close to and best serve customers. Meanwhile, Anil — and, in the future, other country-specific CEOs — can do the day to day, more regulated aspects of running a bank. [TechCrunch]

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