Thursday 1 April 2021 6:56 am

Monzo finance chief leaves for crypto platform Luno

Monzo’s chief financial officer is the latest top-level executive to leave the digital bank after just two years with the challenger bank.

Alwyn Jones, who joined Monzo in September 2018 from Barclays, will join cryptocurrency firm Luno as CFO as cryptocurrency gains traction among top financiers.

Luno is a leading crypto exchange launched in 2013 and headquartered in London. It has been backed by leading investors including Balderton Capital, RMI, Naspers and Venturra.

“I’m thrilled to be joining Luno to help continue to build a great organisation that wants to make cryptocurrencies accessible to everyone in a secure and compliant way, regardless of where they are in the world,” Jones said.

Jones’ successor will have a challenge on their hands as the bank fights to reach profitability. Over the pandemic Monzo has been forced to cut its valuation, slash 120 jobs and install a new chief executive.

Indeed the finance chief is the latest in a string of executives to leave Monzo after an exodus of key players in the last 12 months.

Last summer co-founder and chief executive Tom Blomfield moved into a president role as he stepped back from the day-to-day running of the bank before leaving entirely at the start of the year saying the pandemic had “taken its toll”.

Monzo’s long-standing head of marketing Tristan Thomas and chief risk officer Lisa Nowell also left last year.