Fintech Monument appoints Ian Rand as new CEO after bank given green light by regulators
Monument has appointed Ian Rand to the role of chief executive officer, following the bank’s acquisition of a licence.
The former boss of Barclays Business Banking will take leadership of the digital bank this month, as co-founder and current CEO Mintoo Bhandari, takes a step back.
Rand has been CEO designate from 1 January 2022 and will formally assume the CEO role following regulatory approval.
Bhandari, who oversaw Monument’s quest for a full banking licence and commercial launch, will take on a role as global head of corporate development.
Monument was launched to woo a target market of 4.8m affluent clients, including professionals, entrepreneurs and property investors.
Regulators gave the bank the green light in November last year, lifting all restrictions on its banking licence.
It has also launched its initial property investment lending offerings, plus a first suite of saving products.
Ian Rand, incoming CEO, said: “Monument with its unique proposition is an enticing opportunity to take the next step in my career. The bank aims to fill a much-needed gap in the market – with its deep understanding of the mass affluent community and ability to serve a group who for too long have been left under-served by the market.
“To date, Monument has had an amazing journey, achieving a number of milestones, more recently receiving its full banking licence and launching property investment lending and savings propositions. Now is an exciting time to help Monument reach new heights as we firmly establish our position in the market.”