Anne Boden to step down as CEO of Starling Bank
UK challenger Starling Bank’s founder Anne Boden is to step down from the role of CEO on 30 June.
Anne Boden to step down as Starling CEO
Boden will remain on the board as a non-executive director. Starling’s COO, John Mountain, will take over as interim CEO, while the challenger bank commences its global search for a permanent CEO.
The news follows Starling recording pre-tax profits of £195 million for the year to 31 March 2023, a six-fold increase on the previous year’s figure of £32 million – its second year of profitability. Additionally, Starling more than doubled its revenue to £453 million, from last year’s £216 million.
“When I started Starling in 2014, I was told no one ever starts a bank, nobody wins market share and you’ll never make a profit. Today’s results prove them wrong,” Boden says.
“Now that we have grown from being an aspiring challenger to an established bank, it is clear the roles and priorities of a CEO and a large shareholder ultimately differ and require distinct approaches. As Starling continues to evolve and grow, separating my two roles is in the bank’s best interests.
“Handing over my responsibilities to John Mountain will enable me to focus on my position as a shareholder, championing Starling and ensuring we hold true to our values and vision of changing banking for the better.”
Starling’s growth
Since its inception, London-headquartered Starling Bank has grown to now offer personal, business, joint, euro and dollar current accounts, as well as a children’s card.
It also provides a Software-as-a-Service (SaaS) proposition through its subsidiary Engine, using the proprietary technology platform that it uses to power its own bank.
The challenger claims to hold £10.6 billion in deposits and support more than 3.6 million customers, and employs more than 2,700 employees across London, Dublin, Southampton, Cardiff and most recently, Manchester.
