Monzo bank announced Dave Laramy is set to join next month and will provide the challenger with over 17 years of experience in the industry.
Laramy was previously working for Barclays, Santander, and US bank Capital One.
He is also an advisory board member at Cifas, a non-profit fraud prevention body.
Unlike other challengers, Monzo seems to be able to hire the key executives swiftly even during the time of crisis.
Last week Monzo informed that Sujata Bhatia, a former American Express executive, will replace Tom Foster-Carter at the position of COO. Read more about this in the full article below.
Read also: Monzo hires Sujata Bhatia as the new COO
Although Monzo was able to hire two new executives, it has also been forced to accept up to 295 furlough applications for some of its 1,500 employees, according to TechCrunch.
Some top executives left Monzo bank quite recently as well. The former CTO’s Meri Williams departure was unclear for some time, her responsibilities were transferred back to co-founder Jonas Huckestein, who was at the paternity leave at the time.
Top executives come and go but it seems that challenger banks specifically have some issues with their executives staying for longer the 1-2years.