(Bloomberg) -- Monzo Bank Ltd. has hired Tom Oldham, a former executive at Brazil’s Nubank, as chief financial officer as the digital finance firm prepares for a possible initial public offering.
Oldham will be based in London and start in the new year. He replaces previous Chief Financial Officer James Davies, who left to join energy supplier Ovo last month.
He worked for Nubank when it listed in New York and was most recently the chief investment officer at Brazilian startup Mombak, according to a company statement on Tuesday.
Monzo also said Mark Newbery, former CFO at Barclays Plc’s investment bank, will head its UK finance division, a newly created role. The firm now has 11 million customers, mostly in its home country, while it’s pursuing growth in Europe and the US.
After Monzo reported its first annual profit in June, CEO TS Anil said the firm was “incredibly well capitalized” and it was too early to talk about a public share sale. Still, the latest appointments are a sign the firm is adding staff with experience in listed companies as more fintech firms look to take advantage of a thawing market.
Monzo recently allowed employees to offload some of their stock in the company in a secondary share sale that valued the company at $5.9 billion. That was up from $5.2 billion when it raised $610 million earlier this year.
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