Monzo hires Google executive to lead global growth as boss steps down

Monzo has hired former Google executive Diana Layfield to lead the digital bank after announcing the departure of its chief executive.

Current chief executive TS Anil said he spotted an “opportunity” to bring Ms Layfield on board when searching for a new UK boss.

“It’s always been my belief that great leaders make way for others,” he said.

Ms Layfield was a general manager at Google where she was in charge of international expansion and advancing artificial intelligence (AI) capabilities within its search engine.

Prior to Google she was boss of the Africa region at Standard Chartered bank.

Alongside her career in tech and financial services, she has also worked as a medical relief pilot in war zones in Africa having completed training with the Royal Air Force.

Ms Layfield will take up the position of group chief executive in February, and Mr Anil will move to an advisory role at the bank.

“Through our conversations, it became clear to me that she’d be a fantastic leader who could drive the business at the global level, into this next chapter and beyond,” Mr Anil told staff.

“So while it wasn’t in my plan, I knew it was an opportunity I couldn’t miss for Monzo.”

Mr Anil’s departure follows a five-year tenure at the helm of the bank, having stepped into the role in 2020.

He took over running the business from its founder Tom Blomfield.

The decade-old bank is now the seventh-largest in the UK by customer numbers.

It has grown to count more than 13 million customers, from almost four million in 2020 when Mr Anil joined.

It also made its first pre-tax profit last year under Mr Anil’s leadership.

Ms Layfield said she has “admired Monzo for many years”.

“It’s hugely exciting to be joining them to deliver on Monzo’s potential in the UK and internationally,” she said.