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Monzo’s Surprise CEO Appointment Signals New Phase Of Global Expansion
Monzo appoints Diana Layfield as CEO while preparing for an IPO potentially valuing the company at £10 billion with over 11 million UK customers, sources say.
- Recently, Monzo named Diana Layfield as group chief executive to succeed TS Anil, who is expected to step down after more than five years leading the bank.
- Earlier this year Monzo worked with Morgan Stanley, investment bank, on investor meetings and is stepping up preparations for a public listing in London or New York while considering share sales for early investors and employees.
- Monzo counts more than 11m UK retail customers and over 13 million globally, employs close to 4,000 and made its first pre-tax profit last year.
- TS Anil will move into an advisory role when Diana Layfield takes over, and Gary Hoffman, Monzo's board chair, praised Anil's leadership on Thursday.
- Monzo has revamped its corporate structure as it pursues international expansion, with London seen as the most likely listing venue despite internal disagreements, and banking sources suggest an IPO could value it at over 6 billion or near 7 billion.
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Total News Sources12
Leaning Left2Leaning Right0Center3Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 40%
C 60%
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