Boss of Goldman-backed digital bank Starling to step down next month

by | May 25, 2023 | Financial

Starling Bank CEO Anne Boden.Starling BankThe co-founder of Starling, one of the U.K.’s largest digital banks, is set to step down as CEO next month, the company said Thursday.Starling, which is backed by U.S. investment banking giant Goldman Sachs, is one of the most prominent fintechs in the country with a user base of 3.6 million customers.Anne Boden is to step down on June 30, according to a press release. She will hand the reins to Starling’s chief operating officer, John Mountain, who has been with the bank since 2015.”I have spent nearly a decade here as both the founder and CEO, a dual role which is unique in U.K. banking,” Boden said in a statement Thursday. “It’s been all-consuming and I’ve loved every minute of it.””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.”Starling reported annual revenue of £453 million ($600 million) for the year to March 31, 2023, more than doubling from 2022, with pre-tax profits of £195 million, a sixfold increase year over year. Total lending stood at £4.9 billion, up from £3.3 billion. Customer deposits increased 17% to £10.6 billion.Boden, who co-founded Starling in 2014, took the startup from a tiny challenger in banking to a major player in the U.K.’s financial scene.The often outspoken CEO has been a key voice behind the U.K. government’s attempt to make it an established fintech hub.She is also a staunch critic of social media’s role in online fraud as well as a prominent crypto skeptic.On a call with reporters Thursday, Boden said the main thing that triggered her decision was concerns that her significant share …

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