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Mastering Monzo, and getting its staff to dance to the same tune, may well be the challenge Anil is seeking. for turning around loss-making units of CitiCard in Japan at a difficult time. Taneja also recalls Anil’s willingness to make bold moves. By entering your email you agree to Sifted’s, Last week, digital bank Monzo announced TS Anil — a 48-year-old veteran banker — would be its, It was an unexpected move at a rocky time for the bank, which said the reshuffle would allow Blomfield — who will now instead be president — to, “Every year at Christmas he gives a present to his team,” says, Standard Chartered Bank in Singapore in the mid-2010s, . 09446231). Last week, digital bank Monzo announced TS Anil — a 48-year-old veteran banker — would be its new chief executive, replacing poster boy cofounder Tom Blomfield.. Meghan Connolly, now a senior vice president at American Express, who worked under Anil at Standard Chartered. By entering your email you agree to Sifted’s Terms of Use. Still, Anil is described as somebody who can delicately navigate company politics. Please keep comments respectful. Perhaps most importantly, Anil will also have to get to grips with a new leadership structure with Blomfield — now president and reportedly still expected to call the shots. While Anil has had experience working across India, the US and Asia, he’s never operated in Europe. But according to four former colleagues interviewed by Sifted, Anil is more than just a banking suit. Yet Bosher says Anil will want to make an “impact” at Monzo and get “creative” having sacrificed the cocoon of Visa, so Blomfield may need to make room. The European startups hacking your brain better than Elon Musk’s Neuralink, Europe’s startups battle Airbnb for digital nomad market, Psychedelic drugs with colleagues? who snagged him to make him one of its youngest leaders at the age of 42. And he can do that across cultures,” having navigated both the quiet-deference of corporate Japan and the bolshy, sharkish US banking scene. This seems to add up, with Taneja describing Anil as “one of the best leaders” he’s ever worked for, and Tan telling Sifted: “He is perhaps the only manager I’ve ever had that, if he told me today to down my tools and come join him, I’d go.”, Another of Anil’s trademark attributes is his ability to keep his cool under pressure, says. Indeed, Bosher describes Anil as more startup than old school at heart. I watched him transform a business and lead through the financial crisis.”. “I don’t think he cares about monetary gain and titles,” adds Tan, Anil’s former chief of staff. The new role will prove a radical readjustment for Anil who initially joined Monzo three months ago as its US chief executive — presumably unaware of the sudden promotion that awaited him. Despite offering only a glimpse into Anil’s character, these reports suggest he shares the same delicate blend of confidence and caution that has helped Monzo succeed in recent years, scaling fast without getting tangled up in (too many) controversies. “It’s always a book, and he caters it to each person… He does these really personal touches.”. By commenting, you agree to abide by our community guidelines and these terms and conditions. Anil apparently raised eyebrows at Standard Chartered when he pushed his seniors to support a risky investment in Reliance Jio, a telecoms company now backed by Facebook. Monzo Bank Limited is a company registered in England and Wales (No. While tales of “dad jokes” and dancing credentials may sound inconsequential for his future chief executive role, colleagues say it’s indicative of what Anil can bring to Monzo, a bank which is part “go-getter” startup and part heavily regulated financial institution. © 2020 Sifted EU Ltd. All Rights Reserved. “Every year at Christmas he gives a present to his team,” says Kartik Taneja, who worked with Anil at Standard Chartered Bank in Singapore in the mid-2010s. He was later recognised as a bright talent by Standard Chartered, who snagged him to make him one of its youngest leaders at the age of 42. “Anil is not your die-in-the-role sort of banker,” says Hal Bosher, Amil’s friend of over 20 years and chairman of Wave Money in Myanmar. What’s more, past colleagues also speak of Anil as a unifying force among teams — something that Monzo’s recent burst of executive departures suggests it needs. He’s very clear in his feedback.”. This depiction should be a relief to those who view professional chief executives as mere rule-followers who stifle growth with compliance-fears. One that's built for your smartphone and designed for the way we In March, the senior management team at Monzo and board volunteered to take a 25% cut in salary and hundreds of employees have been furloughed. The story of a mind-bending away day. Nosotros y nuestros socios almacenaremos y/o accederemos a la información de tu dispositivo mediante el uso de cookies y tecnologías similares, a fin de mostrar anuncios y contenido personalizados, evaluar anuncios y contenido, obtener datos sobre la audiencia y desarrollar el producto. Founded in early 2015, our mission is to build the best bank account in the world. See the complete profile on LinkedIn and discover Tom’s connections and jobs at similar companies. He’s even partial to a boogie on the dance floor, according to one (“he’s got the wackiest taste in music”). Download the Monzo app on iOS To move forward, Anil will have to skilfully navigate the thrusting culture of a startup with the constraints of a traditional bank. Each of them described him in familiar terms: an expert financial brain but also a smooth operator with a talent for motivating and understanding his staff. Bosher also says this energy has fostered a “disciple-like” fondness among Anil’s former colleagues. Monzo Bank Ltd is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the PRA. Sifted also interviewed Kelvin WH Tan, Anil’s former chief of staff at Standard Chartered, who recalls how Anil showed an interest in him beyond the job at hand. hundreds more joining every day. Monzo Bank Ltd is authorised by the Prudential Regulation More than five years after starting the company, Monzo co-founder Tom Blomfield is stepping down as CEO of the U.K. challenger bank to take up the newly created role of president. Feel free to email me at editorial.dept@ceotodaymagazine.com if you have any questions or interesting content to send over! The chief executive of digital bank Monzo will not take a salary for the next year and will furlough up to 295 employees as the company seeks to manage costs.. Tom Blomfield told Monzo … He’s like inspector gadget — he can do a lot,” Bosher says. He has a wide range of interests, talents and skills that prompted one ally to liken him to “inspector gadget”. From Sifted and others. Para obtener más información sobre cómo utilizamos tu información, consulta nuestra Política de privacidad y la Política de cookies. If you'd like to receive press releases, please join our distribution list. Have an idea for an opinion piece for Sifted? For media enquiries, please contact [email protected]. Anil can also be demanding, however, according to former colleagues. Yet Bosher. Authority (PRA) and regulated by the Financial Conduct Authority and Our Financial Services Register number is 730427. Among his accolades, Anil is credited for turning around loss-making units of CitiCard in Japan at a difficult time. the PRA. Long-time friend Hal Bosher says that this consideration comes down to Anil being “a people person” and “very genuine”. “Anil is not your die-in-the-role sort of banker… He’s not trying to climb in the traditional way,” he tells Sifted, pointing to the fact he’s leaving behind a “much bigger balance sheet at Visa” in order to “challenge” himself. Tan adds that, as a manager, Anil gets deep into the details with “everything you produce” and demands top-quality work, but is not an obsessive micromanager. At Monzo we’re building a new kind of bank. UK consumers and regulators will be new to him, as will London’s young, testing startup scene (although his former chief of staff says he’s at least “mastered the British double-speak”). Anil apparently raised eyebrows at Standard Chartered when he pushed his seniors to support a risky investment in Reliance Jio, a telecoms company now, Perhaps most importantly, Anil will also have to get to grips with a new leadership structure with Blomfield — now president and reportedly still expected to call the shots. Yet there are several big challenges that await Anil. “At one point, I knew I was slacking and he said to me, ‘you’re 10 times smarter than most of the people in this office, but you choose to do the same amount of work’,” says Taneja. He adds: “Anil understands what makes people tick. Download the Monzo app on Android. In August 2016 we became a Puedes cambiar tus opciones en cualquier momento visitando Tus controles de privacidad. Former chief of staff Tan also recalls that Anil “doesn’t berate you in public”. Monzo is one of the leading fintechs in Europe with 4.2m users and at the vanguard of a wave of companies reinventing consumer finance.

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