Monzo Chair Gary Hoffman to Step Down

Gary Hoffman has chaired British digital bank Monzo since 2019, overseeing its expansion to more than 14 million customers and its transition into profitability. His departure matters as the lender enters a pivotal phase under Group CEO Diana Layfield, balancing European expansion, preparations for a potential initial public offering and demands from major investors for greater influence over board governance.

Monzo said in August 2026 that Hoffman would step down as group chair, with no successor announced. The move follows a shareholder backlash triggered by the October 2025 decision to replace former CEO TS Anil. Investors representing more than 40% of Monzo’s shares had pushed for Anil to remain and for Hoffman to leave. Anil ultimately became vice-chair and a non-executive director in March 2026.