Monument names new CEO

Monument Bank has appointed Ian Rand as CEO, subject to regulatory approval.

He will take over Mintoo Bhandari, the bank’s co-founder and current CEO, who will transition to the role of global head of corporate development to focus on identifying expansion opportunities and manage the bank’s institutional capital relationships.

Ian, who has over 20 years of experience in banking, joins Monument from Barclays, where he spent 12 years working in various senior roles, most recently as CEO of its business banking division.

During his tenure at Barclays, he was also chair of its UK diversity council.

Prior to this, he held MD and COO roles at JP Morgan. 

Commenting on his appointment, Ian said: “Monument, with its unique proposition, is an enticing opportunity to take the next step in my career. 

“The bank aims to fill a much-needed gap in the market with its deep understanding of the mass-affluent community and ability to serve a group which for too long has been left underserved.

“I am delighted to be leading an incredible team, which has the potential to reimagine the market as it currently stands and fulfil the ultimate goal of helping people save and grow their wealth. 

“To date, Monument has had an amazing journey, achieving a number of milestones, more recently receiving its full banking licence and launching property investment lending and savings propositions. 

“Now is an exciting time to help Monument reach new heights as we firmly establish our position in the market.”

Mintoo added: “It has been a pleasure to have led Monument from its inception, through the pandemic and to the point of commercial launch.  

“I have long held the belief that there would come a point in which a highly experienced banking career executive would be most appropriate to take the reins from me to scale the bank.  

“I had formally raised the point of my succession to the board some months ago and I am very happy that, with the beginning of the new year, the day has arrived for me to confidently hand over the reins to Ian, who I am certain has the experience and skills to scale Monument Bank from the solid foundation we have in place to take it to new heights.  

“Ian has a wealth of technical and organisational experience as a banking leader, but most importantly, he shares our vision and enthusiasm to make Monument a valuable, impactful, and durable institution in the rapidly evolving financial services marketplace.”

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