Ovo boss is new CEO of Starling digital bank

STARLING Bank has appointed the chief executive of energy supplier Ovo as its new boss, after founder Anne Boden stepped down from the role last year

Raman Bhatia is set to become group chief executive later this year, taking over from John Mountain who took over on an interim basis in May.

Mr Bhatia previously headed up the digital bank for HSBC’s retail and wealth management businesses in Europe.

Starling said that Mr Bhatia was an ideal leader for the digital bank, due to his consumer tech and fintech background, and having headed up the digitally-led energy firm through a period of significant change.

Starling’s chair David Sproul said: “We see significant opportunities for Starling under Raman’s leadership as the economy stabilises.”

He added that the bank hopes to win more personal and small business customers in the UK and grow its banking software business internationally.

Mr Bhatia is expected to begin his role in early summer, subject to approval from regulators.

Ms Boden announced she was stepping down as Starling’s chief executive in May, having founded the digital bank in 2014.

She said it was “in the bank’s best interests” to separate her role as chief executive and as a large shareholder.

Ms Boden emphasised that the decision to step aside came from herself and the board and that the financial regulator had not raised any concerns about her position.

The move followed the bank revealing a pre-tax profit of £195 million for the year to the end of March 2023, six times more than the previous year.

Ms Boden said: “I am pleased that in Raman we have found someone who can take Starling into its next phase of growth while cherishing the culture and values we have worked so hard to instil in everything we do.”