When TS Anil told colleagues he was stepping down as Monzo’s CEO, he called it a “bittersweet moment.” For the banker who charted the fintech’s path to profitability, the surprise announcement marked the end of a transformative chapter for one of the industry’s most closely watched players.
Anil’s successor will be Diana Layfield, a veteran of both Google and Standard Chartered, whose appointment signals Monzo’s intent to scale its operations on the global stage.
Monzo confirmed the leadership change on Thursday, saying Layfield is due to take over in February, subject to regulatory approval. Anil will move into an advisory role after nearly six years as group CEO. He acknowledged that stepping aside was not an easy decision to make, but one he believes is right for Monzo.
Layfield’s background combines banking and tech experience, a mix that convinced Anil and the board to abandon an earlier plan to hire a U.K. chief executive who would report to him. In a message to staff that was shared on LinkedIn, Anil said the board had been searching for a U.K. CEO, but “through our conversations, it became clear to me that she’d be a fantastic leader who could drive the business at the global level.”
Her appointment comes after Monzo turned a corner financially. The fintech’s revenue topped £1 billion ($1.3 billion) for the first time, and annual pre-tax profit rose to £60.5 million for the year to March 2025, up from £13.9 million a year earlier. Fiscal 2024 was the firm’s first profitable year.
Layfield said she had admired Monzo for many years and paid tribute to the progress made under Anil’s leadership. “It’s hugely exciting to be joining them to deliver on Monzo’s potential in the U.K. and internationally, and make even more strides on Monzo’s mission to make money work for everyone, together.”
Layfield has spent much of her career at the intersection of global finance and big tech. At Google, she led product and engineering teams across international markets; at Standard Chartered, she oversaw operations across Africa: experience that could prove useful as Monzo prepares to expand into new territories.
Anil joined Monzo in 2020 as head of its U.S. operations and later became group CEO when cofounder Tom Blomfield asked him to take the baton. During his tenure, the bank grew its customer base and bolstered its finances, progress Anil cited in explaining why the time was right for him to step down.
Originally named Mondo until a trademark challenge forced a rename, Monzo began as a “scrappy startup” issuing prepaid debit cards in 2015 and won a full banking license two years later. Since then, it has grown into one of the U.K.’s most valuable fintech companies. In a secondary share sale a year ago, the firm was valued at £4.5 billion.
Market chatter about a potential IPO has intensified as Monzo posts stronger results, although the fintech has consistently declined to comment on timelines for any listing.
As Anil passes the baton to his successor, Monzo finds itself in a strong financial position and ready to test its model beyond its home market. Whether Layfield can build on that foundation will determine if Monzo’s next chapter becomes its biggest yet.