Monzo has appointed a new group CFO from Brazilian fintech Nubank, succeeding James Davies.
- Tom Oldham will lead Monzo’s financial strategy, steering growth beyond the UK.
- Mark Newbery joins as UK CFO, focusing on domestic financial management.
- Monzo has achieved several milestones in 2024, showcasing a successful expansion year.
- Despite competition, Monzo remains focused on transforming financial lives globally.
Monzo, the digital banking leader, made a strategic move by appointing Tom Oldham, a former executive from Nubank, as its new group CFO. This leadership change comes following the departure of James Davies, who took on the CFO role at energy company OVO. Oldham brings his expertise from Mombak, where he served as the chief investment officer, to guide Monzo’s financial trajectory as it plans international growth.
Tom Oldham expressed his enthusiasm for joining Monzo, highlighting his admiration for the company’s customer-centric approach and its evolving strategy. His leadership is expected to strengthen Monzo’s financial operations, supporting its mission to expand its footprint beyond UK borders.
In conjunction with Oldham’s appointment, Monzo has hired Mark Newbery as the UK CFO. Formerly the head of investment banking at Barclays, Newbery will oversee Monzo’s financial activities within the UK. His role is crucial as Monzo aims for further expansion into Europe, particularly Ireland, and a continued presence in the US. Newbery, echoing Oldham, admires Monzo’s swift rise to becoming a household name and its transformative impact on banking.
Monzo’s strong performance in 2024 marks a year of significant achievements. The company posted its first full year of profitability in June, ventured into the pensions market in July, and attained over 10 million customers in the UK. Moreover, Monzo topped the CMA banking league table for the fourth consecutive time in August and secured a £4.5bn valuation by October.
Despite the competitive landscape, including Revolut’s promotional activities, Monzo’s focus remains steadfast on advancing its mission. CEO TS Anil emphasized the blend of banking and technology in the company’s approach, aiming to transform the financial experiences of millions globally.
Monzo’s strategic appointments and sustained growth highlight its commitment to redefining banking for customers worldwide.
