Monzo to appoint former Northern Rock veteran as chairman


British fintech unicorn Monzo is set to appoint financial market veteran Gary Hoffman as its chairman, a source close to the bank told media.

Hoffman, who has held executive roles at Barclays and is currently non-executive chairman of insurer Hastings and lender Coventry Building Society, will replace Denise Kingsmill.

Hoffman, best known for managing nationalised lender Northern Rock for two years after its collapse in the financial crisis, will be named non-executive chairman of Monzo on Wednesday, the source added.

Monzo’s comment is awaited.