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Starling CEO Anne Boden is stepping down

Ryan Lawler
May 25, 2023

Starling Bank founder Anne Boden. Photo: Harry Murphy/Sportsfile via Getty Images

Anne Boden, founder of U.K.-based digital bank Starling Bank, is stepping down as CEO but will remain a non-executive board member.

Why it matters: Boden grew Starling from a fledgling neobank to a robust competitor in the U.K., with 3.6 million customers and £10.6 billion in deposits.

What they're saying: “Now that we have grown from being an aspiring challenger to an established bank, it is clear the roles and priorities of a CEO and a large shareholder ultimately differ and require distinct approaches," Boden said in a statement.

  • "As Starling continues to evolve and grow, separating my two roles is in the bank’s best interests."

Between the lines: Boden owns a 4% stake in Starling and controls 18.5% of its voting rights.

What's happening: Boden will step aside June 30.

  • COO John Mountain will serve as interim CEO while Starling searches for Boden's successor.

Context: The announcement coincided with the release of Starling's most recent annual report, in which the company said its revenue doubled and pre-tax profits grew sixfold over the previous year.

By the numbers: Starling's revenue for the year ended March 31 reached £453 million, up from £216 million during the previous 12 months.

  • Pre-tax profits reached £195 million in the same period, a jump from £32 million in the year prior.
  • Total lending grew to £4.9 billion from £3.3 billion, and customer deposits increased 17% year over year, to £10.6 billion.
  • The company now touts 3.6 million customers, up from 2.8 million in the previous period.
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