Monzo EU chief Michael Carney to step down for AI start‑up

Monzo’s EU chief Michael Carney has announced he will leave his role to launch a new AI accessibility start‑up.

Carney, who took charge of Monzo’s European operations in 2024, said the decision follows a “special moment” for him after helping grow the team to about 100 staff across Dublin, Barcelona and Madrid and serving Irish customers.

In a statement he explained that building a bank from the ground up inspired him to pursue a personal passion for using AI and robotics to support people with disabilities. He will remain with Monzo while the company searches for a new CEO to lead its European business.

Carney previously served as Stripe’s Europe CEO and as a director at Twitter, working on monetising European operations. His departure comes months after Monzo’s group CEO TS Anil was replaced by Diana Layfield.

Monzo, which exited the US market in March to focus on the UK and Europe, secured a full European banking licence from the Central Bank of Ireland in December and launched in Ireland in April, attracting around 100,000 users on a wait‑list. The bank announced an €83.5 million investment in its Irish operations earlier this year, aiming to double its Dublin workforce to 70 by mid‑2027.

Source: Silicon Republic. Photo: Alexander Kaliberda / Pexels.