So is the CEO of Tandem abandoning a sinking ship or is it purely something innocuous like a real retirement?
I could be wrong, but I expect that it could be a case that the FCA want a more experienced CEO that Peter. This would especially be in light of recent regulation to make people accountable and judge their experience.
This was, and may still be, a concern for Monzo as reported by Business Insider back in June where the possibility of Tom stepping aside when it came time for Monzo to launch.
Going by the article the guy has 30 years experience at Barclays (admittedly it doesn’t state in what role) so not sure lack of experience is a factor here.
Very true, I skipped over that part. I believe he is 61, so retiring due to age…
Here’s Tandem’s new CEO
It seems they made both announcements in tandem…
This might help Tom remain CEO - I assume that the regulator had to sign off on this & in which case, this looks like acceptance that age doesn’t necessarily mean inexperience & that direct experience isn’t always a requirement either -
This weekend marks the end of his first month in the job, which he got two years after joining First Direct’s parent company, HSBC.
While he admits he hasn’t been in banking very long, he does have plenty of experience of handling customers.
If Tom were to go, Monzo wouldn’t feel right for me. Without him, what is Monzo?