Monzo has appointed a new group CFO as it gears up for international growth.
- Former Nubank executive Tom Oldham steps in following the departure of James Davies.
- Oldham will focus on Monzo’s financial strategy amid its plans to expand into Europe and the US.
- Mark Newbery, ex-Barclays, joins as UK CFO to manage domestic financial operations.
- The appointments come during a successful year where Monzo reported its first full-year profit.
Monzo, a leader in the digital banking sector, has recently appointed Tom Oldham as its new group Chief Financial Officer (CFO). Oldham, who comes with a wealth of experience from his previous role at Mombak, a carbon credit fund manager, will take over from James Davies. This strategic hire follows Monzo’s robust performance in 2024, indicating its aspirations on the international front.
Oldham expressed his enthusiasm for joining Monzo, stating he has been an admirer of the bank for years. He looks forward to contributing to the company’s continued growth and keeping customers at the core of its strategy in the UK and beyond. His role will be crucial as Monzo aims to expand its footprint in Europe via Ireland and further into the US market.
Alongside Oldham, Mark Newbery has been appointed as Monzo’s UK CFO. Newbery, who previously led investment banking at Barclays, will oversee Monzo’s financial operations in the UK. He highlights Monzo’s rapid ascent to becoming a household name in the UK banking industry and its innovative approach to improving financial services for millions. Newbery is excited to be part of a team that has transformed banking in a short span.
CEO TS Anil remarked on the new appointments, emphasizing how they signify Monzo’s blend of banking excellence and technological innovation aimed at transforming the financial experiences of millions globally. Both Oldham and Newbery’s roles are pivotal as Monzo sustains its mission of enhancing its services and customer base.
This move comes during a year when Monzo has marked significant achievements. The bank posted its first full-year profit in June, expanded into the pensions market in July, and celebrated surpassing 10 million UK customers in August. The bank also topped the CMA banking league table for the fourth consecutive time, and its valuation reached £4.5 billion in October.
Monzo’s strategic appointments highlight its forward-thinking approach as it builds on a successful year with eyes set on international expansion.
