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Monzo names new chair

Theo Osborn | 12:00 Wednesday 9th January 2019

Monzo has named Gary Hoffman (pictured above) as its new chair, subject to regulatory approval.

The former Northern Rock chief executive is set to join the mobile bank on 1st February.

Gary started his career at Barclays and went on to become CEO of Barclaycard.

Most recently, he has been involved in running Hastings Insurance and chairing the board of Coventry Building Society.

This appointment comes as Monzo plans to launch business banking later this year.

Tom Blomfield, co-founder and CEO at Monzo, said: “I'm excited to bring Gary on to the Monzo board as we look forward to 2019 and beyond. 

“Gary’s experience in banking and insurance will be a huge support as Monzo really starts to go mainstream. 

“I’d also like to thank Baroness Denise Kingsmill for her time as chair, and Tim Brooke – who stepped in as interim chair in 2018 – for his hard work and ongoing support.”

Gary added: “I have watched the development of the challenger bank landscape carefully. 

“Monzo’s proposition and potential is incredibly impressive and I am delighted to be taking on the role of chair to help Tom and his team in the next stages of their exciting journey.”

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