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The move meant Blomfield would no longer be part of the executive leadership team at the digital bank, stepping into a more community-focused role. TechCrunch reported on Wednesday night that Monzo staff had been informed of Blomfield’s decision to leave the app-only bank. Monzo co-founder Tom Blomfield is standing down as chief executive to take up a new position as the payment company’s president, after waiving his salary for a year to save costs amid coronavirus. CEO Tom Blomfield will forgo his salary for 12 months, according to a memo seen by TechCrunch. TechCrunch reported on Wednesday night that Monzo staff had been informed of Blomfield’s decision to leave the app-only bank. Full-time, temporary, and part-time jobs. Monzo is one of the UK's brightest fintech startups, with 4 million customers and a valuation of $2.5 billion at its latest fundraise. It is understood that Blomfield will forgo his salary for 12 months, while Monzo's senior management team and board will take a 25% pay cut. The challenger bank, which he co-founded in 2015, may not have been the … British entrepreneur Tom Blomfield is stepping down as UK chief executive of Monzo, the digital bank he co-founded, as the popular fintech battles severe headwinds as a result of the pandemic. Sign up to 10 Things in Tech You Need to Know Today. Image source: Tom Blomfield/Monzo. The Current Account Switch Service will move your direct debits and salary to @monzo https://t.co/ry01qbY50I” UK challenger bank Monzo is taking steps to shore itself up against the economic downturn brought on by the coronavirus outbreak. Tom Blomfield is to leave Monzo, the company he founded, because of mental health struggles. The company, like many fast-growing startups, remains unprofitable. He will leave day-to-day operations at the end of the month. Blomfield said he … Tom Blomfield, the boss and founder of digital bank Monzo is quitting the company at the end of this month, and admitted he stopped enjoying the job around two years ago. In March, the senior management team at Monzo and board volunteered to take a 25% cut in salary and hundreds of employees have been furloughed. Salaries posted anonymously by Bloomfield Homes employees. Tom Blomfield announced on Wednesday night that he is exiting Monzo for good. Monzo and coronavirus. By Isabel Woodford 12 January 2021 \Fintech News / Monzo cofounder Tom Blomfield stepping down as CEO The cofounder will now take on the role of president at a difficult time for the challenger bank. Join Facebook to connect with Tom Blomfield and others you may know. Monzo cofounder Tom Blomfield is stepping down as chief executive of the UK challenger bank as the coronavirus pandemic continues to bring added pressure to the fintech sector. Image source: Tom Blomfield/Monzo. The challenger bank, which he co-founded in 2015, may not have America may have just gained a new president, but London fintech Monzo has lost theirs. Monzo’s co-founder and CEO Tom Blomfield has cut his salary to zero for the next 12 months as the digital bank grapples with the impact of coronavirus on its business. Competitive salary. Monitors and documents patient progress and consults with physicians as needed. Blomfield himself decided to forgo his salary for a year and top executives took a 25% pay cut. “You can now go #fullmonzo! Monzo and coronavirus. Get the latest coronavirus business & economic impact analysis from Business Insider Intelligence on how COVID-19 is affecting industries. Monzo is hiring. Monzo cofounder Tom Blomfield. He held the position of the CEO till last May, post which he assumed the newly created role of president. Tom Blomfield, founder of digital bank Monzo and former CEO is departing the Fintech entirely at the end of January according to a report.. 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