Digital bank Zopa has drafted in top figures from Sainsbury’s, Moonpig and KPMG as part of a major leadership shakeup before an expected flotation.
The lender announced today Peter Donlon and Kate Erb have been brought in as chief technology officer (CTO) and chief operating officer (COO)
It said the moves were made as it looks to grow its customers by five times, contenting its recent spree of C-suite hires.
This comes after fintech lender Zopa called in a former Deutsche Bank executive to its board in the first of a series of senior appointments designed to bolster its top team ahead of an IPO.
Donlon was head of development at Sainsbury’s and formerly CTO at Moonpig, which he led during its £1.2bn London Stock Exchange listing. Meanwhile, Erb, a qualified chartered accountant from KPMG, has two decades of experience in financial services scaling digital banks and fintechs.
“One of the things that attracted me to Zopa is its ability to deliver great outcomes through cutting-edge technology, markedly improving the financial well-being and resilience of its customers”, said Peter Donlon, CTO at Zopa bank.
Erb said she’s looking forward to serving the bank as it “prepares to serve 5 million customers in the coming years”
Zopa has been open in its ambitions to shift on to the public markets but has shelved the plans due to turbulent market conditions over the past year.
The bank is yet to commit to a destination for an eventual IPO but told City A.M. earlier in June it is leaning towards London as the eventual destination.