We're saying goodbye to Tom 😢

Hey everyone,

Some bittersweet news to report today, we’re saying goodbye to our original CEO and Monzo co-founder, @tom :wave:

Tom took a new position as President last year, along with some well-deserved time off, as our new CEO TS Anil took a fresh lead on things. And now Tom’s stepping away from Monzo entirely, though we’re sure he’ll be cheering us on from the sidelines.

I’ve been a big admirer of Tom from the day I joined Monzo. Frankly, I didn’t know anything about the world of Fintech before I started and wasn’t aware of the fanbase he personally had. But I remember some early 2018 All Hands meetings where it became clear that Tom wasn’t just a great company leader, but a real visionary for the industry. (Although I still have the words “UNIT ECONOMICS” seared in my brain).

Tom’s also been super candid about his own struggles, both internally and externally such as in the Techcrunch article. And this set a great example for all of us. It’s meant that we’ve got a culture where it’s ok to say you’re not ok. And that’s meant so much when I’ve found things difficult myself.

I say bittersweet because this means we’re entering a new chapter in Monzo’s history. We’ve got some fresh faces at the executive level with Sujata and TS. And they’ve already done some amazing work. I’m looking forward for y’all getting to know them too once we get to do some proper introductions :slightly_smiling_face:

I’m sure a lot of you will have your own memories of Tom too, and I’d welcome you to share them below. I’m sure he’d love to hear from all of you :heart:

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Bye Tom. Look forward to seeing what you do next

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Very open and honest of him.

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It was really powerful listening to him in our All Hands just now.

I said something similar on Slack but Monzo (the app, bank etc) has changed my financial situation hugely. So much so when somebody posted on these forums in May 2019 that Monzo were hiring I applied, even though I wasn’t looking for a job.

I’ve never worked anywhere with such a fantastic ethos and a large part of that is down to Tom. His honesty and openness is truly awesome and we’ll be cheering him on from the sidelines!

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All the best to him. He should be well chuffed with what he helped build, and good to see Monzo on a firmer financial footing after all the negative press RE down-round.

Vaccine volunteer is the icing on the cake - what a good bloke.

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He leaves Monzo a very rich guy. Now he can focus on the sourdough.

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Good luck @tom, you will be missed.

Such news can really bring both feelings: amazing and a good thing that this can happen in such openness and struggles can be shared - but also quite sad to know there won’t be any more of his session where he talks about Monzo’s plans.
I still remember the one from the first crowdfunding (when Monzo was still more of an experiment), explaining what big plans and aspirations Monzo had. Years later, they’ve (along with other fintechs) changed a whole industry!

Goodbye Tom, you shall be missed

Good luck Tom - hope you take care and enjoy your future endeavours :+1:

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Interesting - maybe the Bank will more hardcore about profitability and us investors can cash in as well in the near future.

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Interesting.

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One of my early posts on here way back when (it may even have been my first) had a reply from Tom. I will always remember that at the beginning – before all the paperwork and other banky nonsense took him away and into the world of meetings and corporate jibber jabber – he was taking time to engage with the community and genuinely wanted to get involved in the discussion about how to progress monzo and keep a finger on the pulse of what people wanted/needed. Feels like a different world!

Edit: forgot to say, good luck for your future endeavours, Tom!

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Sad to hear, but I’m glad he’s doing what’s right for him. He did an amazing job in building Monzo from a fledgling startup to a decent-sized bank, and inspired a great deal of change across the industry. How many other banks now offer card freezes, transaction notifications and decently-priced international card payments?

I remember 12 January 20016, when I first attended a Mondo meeting for Alpha testers, during which we were handed our cards, and given a talk about how things would definitely go wrong, but how Mondo would strive to put things right, so to be patient. In those days, if you used chat to talk to them, you generally got an answer within minutes, and it was as likely that Tom would be the one to pen the answer as anyone else. On one occasion, I reported a bug, and less than 24 hours later, was informed it had been fixed in the next release. Still today, other banks dream of this kind of turnaround, but it was clearly all hands on deck while they built a bank. This level of engagement inspired me to invest in Monzo, and I have done so in every round to date.

In August 2017, I attended one of the events during which they handed out a number of current account debit cards, as they finally transitioned towards being a bank.

Some people are well suited to run a company that’s already up and running. Others find their energy in building things from scratch - getting them off the ground, and getting a community involved - and that is clearly Tom’s passion.

Sad to see him leave, but I wish him very well, and will certainly keep an eye on his next venture.

Good luck, Tom!

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Good luck Tom, thanks for a great bank :smile:

Well a change in leadership and direction often means that statements and plans made before are often discarded - so if Monzo can squeeze the customer base - as an investor, I’d be a liar if I would not say I’d be very happy.

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Well about that sourdough…

I doubt you’ll see much change on that front. It is, and always has been, a long term strategy.

Sure profitability will come, but not at the expense of losing what makes Monzo, Monzo.

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I wouldn’t bank on that (pun intented). Just look what’s happening at Tandem Bank.

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Sorry to see you go. All the best for the future.

It’s refreshing to see someone in a very senior position both admit to having struggles and being honest. All too often people try and carry on to save face and don’t speak up and we know where that can sometimes lead. More of a light should be shone on mental health in general - especially in younger men. It gives others the courage to speak up.

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