Monzo’s COO Sujata Bhatia to exit after five years

Monzo’s chief operating officer Sujata Bhatia is leaving the UK challenger bank after five years.

Bhatia announced on LinkedIn that she is "stepping away" from the neobank, saying it was the right time to exit.

She said: 

“There’s never a good time to leave a company that’s on a tear and has some of the best and smartest people driving it forward, but in many ways, that’s exactly why it feels like the right time. I couldn’t be prouder of what we’ve achieved as a company over the last five years.”

Bhatia, a former American Express executive, pointed to some Monzo highlights during her tenure, including the challenger backing becoming full-year profitable.

She also singled out CEO TS Anil, who she said had taken the “bar for leadership to new levels".

Bhatia, who was part of Monzo’s executive team, didn’t reveal details of her next move.

Prior to Monzo, Bhatia spent almost 16 years at American Express, including roles as senior vice president for Global Merchant Services Europe and senior vice president of Global Strategy and Capabilities.

Anil said:

“Sujata has been an incredible force over the past five years and I’d like to pay a special thanks to her for everything she’s done to help build Monzo into the success it is today. She leaves with all our love and gratitude as she embarks on her next chapter.” 

Monzo, which now has move 10 million customers, and is valued at $5.9bn, is set to launch across the EU next year.