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.”

“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.

Who 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.”