Gary Hoffman is stepping down as chair of Monzo in early September 2026, roughly a year before his term was set to expire, following a shareholder revolt in December 2025 led by major investors Accel and Iconiq. His departure comes after CEO TS Anil announced his intention to step down in February 2026, which triggered the bank’s largest shareholders to push for his reinstatement. Under Hoffman, Monzo grew from approximately 1.6 million customers to more than 16 million. Karen Peacock has been appointed interim chair while Diana Layfield takes over as CEO.
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