Secret Leaders

Former Monzo CEO Tom Blomfield on falling out of love with your work

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Synopsis

Get you own unique referral link: https://www.secretleaders.com/hype Tom Blomfield, the former CEO and Co-Founder of Monzo, and Co-Founder of GoCardless, knows a thing or two about the fintech industry.  “We wanted to create something different than existing banks. We believed that the banks weren't serving customers particularly well at that moment. Customer expectations had been raised dramatically by things like Spotify, Uber and Airbnb, in terms of the user experience and functionality.” Which is why his announcement in January 2021 that he was leaving Monzo, 6 years after founding the challenger bank, came as a shock to many.  “When you get to that size, it's about people management. You spend almost no time on product or customers really. It's about process, a lot of process, extraordinary amount of regulation.” But it takes an outstanding leader to know when to step aside. And in today’s inaugural episode of Season 7, Tom talks about the mounting pressure when you’re at the top and ultimately its impac