PTSB finance chief Nicola O’Brien to join UK online bank Monzo

PTSB chief financial officer Nicola O’Brien, who announced on Thursday she is leaving the lender, is poised to join UK online bank Monzo in a senior executive role as it goes about setting up an Irish office to access the wider EU market, according to sources.

PTSB said on Thursday that Ms O’Brien, who has been CFO for the past two years and an employee of the bank since early 2017, would be leaving “in the coming months to take on a new role”. She has stepped down from the group’s board with immediate effect, in accordance with existing governance arrangements, as she prepares to exit.Davy analyst Diarmaid Sheridan said that the exit “is another example of the impact of crisis era pay restrictions on the domestic banking sector”.

Monzo is one of the highest-profile online banks in the UK, where it is a competitor to the likes of Starling and Revolut. It has about 8.4 million customers and more than 300,000 business customers, according to its own stats.

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