Gary Hoffman to step down as Monzo chair
What's the deal? Monzo Bank chairman Gary HoffmanDealroom has a profile for this one. Try Dealroom → will step down from the role in September 2026, after nearly eight years leading the digital bank's board. Karen PeacockDealroom has a profile for this one. Try Dealroom →, a Monzo non-executive director who joined the board in 2025, will serve as interim chair while the company searches for a permanent replacement.
Leadership context: Hoffman previously spent 25 years at Barclays and served as chief executive of Northern Rock. During his tenure at Monzo, the bank replaced CEO TS Anil with former Google and Standard Chartered executive Diana Layfield. The leadership changes followed reported disagreement among some shareholders about Anil's departure, although Hoffman's own decision to leave is understood to be linked to his recovery after prostate cancer treatment and a desire to focus more time on family and sport.
Why it matters: Monzo has scaled substantially during Hoffman's chairmanship, growing from 1.6 million customers when he joined to more than 16 million customers in August 2026. Peacock said the bank now offers products across much of its customers' financial lives and is focusing on growth opportunities in the UK and Europe. The interim appointment provides continuity while Monzo determines its longer-term board leadership.
Read more: Tech.eu (17 August 2026)
