The bank’s COO, John Mountain, will take over as interim CEO, leading Starling into its next growth phase.
“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 said. “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.”
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“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”, Boden continued.
The move comes as Starling Bank reported revenue of £453m for the year to 31 March 2023. That is more than double compared with £216m recorded in the same period a year earlier.
In addition, record pre-tax profits stood at £195m in Q1 2023, a six-fold increase on the previous year’s figure of £32m.
In March, the bank announced plans to create around 1,000 jobs in Manchester. The new jobs will fill company roles, including operations, engineering, data science and cybersecurity.
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By GlobalDataWho is Jonathan Mountain?
Aged 44, Starling’s interim CEO has been working at the bank for seven years, occupying varying leadership roles – initially as a chief information officer and later as chief operating officer.
Before joining Starling, he spent 15 years as a technical architect, including with BJSS, working for clients such as Lloyds Bank and Waitrose.
Mountain also commented on Boden’s departure.
“Anne has created a company that I’m really proud to work in and is genuinely different. What makes Starling stand out is that we’ve succeeded in making it both customer-led and technology-led throughout. We’ve firmly established a sustainable business model and I look forward to continuing our work of changing banking for good.”
