Anne Boden, founder of Starling Bank, is to step aside as CEO on 30 June and will remain on the Board as a non-executive director. John Mountain, Starling’s COO, will take over as interim CEO to lead the digital bank into its next phase of growth, according to the press release.
The move comes as Starling reports:
. Revenue of £453 million for the year to 31 March 2023, more than double last year’s figure of £216 million.
. Record pre-tax profits of £195 million for the year to 31 March 2023, a six fold increase on the previous year’s figure of £32 million.
. Total lending of £4.9 billion, versus £3.3 billion previously.
. Customer deposits have increased 17% to £10.6 billion.
. The bank has more than 3.6 million customers.
Anne Boden said: “When I started Starling in 2014, I was told no one ever starts a bank, nobody wins market share and you’ll never make a profit. Today’s results prove them wrong.
“We’ve succeeded in disrupting an entire industry. I’m immensely proud of these results, which are a testament to how far we have come as a team and how fast we’ve moved as a business.
“I have spent nearly a decade here as both the founder and CEO, a dual role which is unique in UK banking. It’s been all-consuming and I’ve loved every minute of it.
“Now that we have grown from being an aspiring challenger to an established bank, it is clear the roles and priorities of a CEO and a large shareholder ultimately differ and require distinct approaches. As Starling continues to evolve and grow, separating my two roles is in the bank’s best interests.
“Handing over my responsibilities to John Mountain will enable me to focus on my position as a shareholder, championing Starling and ensuring we hold true to our values and vision of changing banking for the better.„
David Sproul, Chair of Starling Bank, said: „Anne is a brilliant and inspirational leader. She has built Starling from nothing and has led it to become the UK’s leading digital bank in the space of just eight years. It is an astonishing achievement and we all owe her a huge debt of gratitude.„
John Mountain, interim CEO, said: “Anne has created a company that I’m really proud to work in and is genuinely different. What makes Starling stand out is that we’ve succeeded in making it both customer-led and technology-led throughout. We’ve firmly established a sustainable business model and I look forward to continuing our work of changing banking for good.”
Starling has begun an international search for a permanent CEO and will update in due course.
For more information, read the Starling Bank 2022-2023 Annual Report and Accounts and read Anne Boden’s annual CEO letter.
Starling Bank is an award-winning, fully-licensed and regulated bank built to give people a fairer, smarter and more human alternative to the banks of the past. It offers personal, business, joint, euro and dollar current accounts alongside a children’s card. Starling also provides a Software-as-a-Service (SaaS) proposition through its subsidiary Engine, using the proprietary technology platform that it uses to power its own bank. Headquartered in London, the bank has offices in Southampton, Dublin and Cardiff.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
