Finance
UK mobile bank Monzo to replace CEO Anil from February
Published by Global Banking & Finance Review®
Posted on October 30, 2025
2 min readLast updated: January 21, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on October 30, 2025
2 min readLast updated: January 21, 2026
Monzo announces CEO change with Diana Layfield replacing TS Anil in February, indicating potential global expansion and strategic shifts.
By Yadarisa Shabong and Elizabeth Howcroft
(Reuters) -British mobile bank Monzo said on Thursday that TS Anil would step down after almost six years as CEO and be replaced by Diana Layfield from February next year.
Layfield chairs development finance body British International Investment and previously worked for Google and Standard Chartered, said Monzo.
One of a handful of financial services apps known as "fintechs" to have emerged in Britain in the past decade, Monzo did not say why Anil was leaving, but he would retain an advisory role.
A spokesperson declined to comment on a Sky News report that Monzo is planning a public listing, which could value it at up to 10 billion pounds ($13.42 billion). In June, Monzo posted a sharp profit rise but said it was too soon to talk about an IPO.
Anil said in an internal statement, also posted on his LinkedIn profile, that he and Monzo's board had initially been looking for a UK CEO, but when he met Layfield and realised she could "drive the business at the global level."
"So while it wasn't in my plan, I knew it was an opportunity I couldn't miss for Monzo," said Anil, adding: "It hasn't been an easy decision for me to make because of how close this company, and all of you are, to my heart".
Monzo, which is smaller than rival Revolut, says it has 13 million customers, up from 3.9 million in 2020. It plans to expand into Europe through Ireland and grow in the U.S.
Britain's financial regulator fined Monzo 21 million pounds ($28.18 million) in July for inadequate protection against financial crime, including taking on customers who had given their addresses as Buckingham Palace and Downing Street.
($1 = 0.7451 pounds)
(Reporting by Yamini Kalia in Bengaluru; Editing by Sonia Cheema and Alexander Smith)
A public listing refers to the process of offering shares of a private corporation to the public in a new stock issuance, allowing the company to raise capital from public investors.
An IPO, or Initial Public Offering, is the first time a company sells its shares to the public, transitioning from a private to a public company, often to raise funds for expansion.
Fintech, short for financial technology, refers to the integration of technology into offerings by financial services companies to improve their use of financial services.
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