Starling Bank has appointed Raman Bhatia, the chief executive of energy retailer OVO and former HSBC digital banking lead, as it new CEO.
Bhatia will take over from John Mountain, who has been acting as interim CEO since founder Anne Boden retired from the role last year.
Before leading OVO, Bhatia was the head of digital bank for HSBC’s retail banking and wealth management business in the UK and Europe, as well as being a member of its Executive Committee. This included responsibility for HSBC, First Direct and M&S Bank.
His new appointment is subject to formal approval by the regulators and it is anticipated he will start at Starling in early summer.
David Sproul, chair of Starling Bank, says: “We see significant opportunities for Starling under Raman’s leadership as the economy stabilises, as our truly differentiated offering for personal and small business customers wins market share in the UK, and as our Engine by Starling Software-as-a-Service business secures further international contracts.”
Valued at £2.5 billion in 2022, Starling iced plans to go public when Boden stepped down. Bhatia's appointment is viewed as a potential catalyst for reviving the prospect.