In a strategic move poised to steer Starling Bank through its next phase of expansion, the bank is delighted to announce the appointment of Raman Bhatia, the current chief executive of Ovo Energy, as its incoming Group Chief Executive. This announcement comes after the bank’s founder, Anne Boden, made the decision to step down last year, marking a new chapter in Starling Bank’s leadership and growth trajectory.
Bhatia, who is set to assume his role in the early summer, pending regulatory approval, brings a wealth of experience from his tenure at Ovo Energy, a Bristol-based firm. His leadership was notably during a tumultuous period for the energy sector, exacerbated by geopolitical tensions and the UK’s energy crisis. Prior to Ovo, Bhatia’s impressive resume includes spearheading HSBC’s digital banking operations across Europe, underscoring his profound expertise in consumer technology and financial technology sectors.
Starling Bank expressed confidence in Bhatia’s leadership capabilities, emphasising his aptitude for guiding technology-driven enterprises through periods of substantial transformation. “Raman’s consumer tech and fintech background renders him the ideal leader for Starling, especially at a time when the digital bank seeks to capitalise on significant opportunities as the economy stabilises,” remarked David Sproul, Starling’s Chair.
Under Bhatia’s stewardship, Starling aims to expand its footprint in the personal and small business banking sectors within the UK and to extend its banking software solutions on a global scale. The bank’s leadership is confident that Bhatia’s vision and strategy will significantly contribute to its continued growth and innovation.
The leadership transition follows Anne Boden’s announcement last May to relinquish her role as CEO, a position she held since founding Starling in 2014. Boden’s decision, driven by a strategic consideration to delineate her role as CEO from her significant shareholding, was made in concordance with the board, with the financial regulator expressing no reservations regarding her tenure.
This change in leadership comes on the heels of Starling Bank disclosing a pre-tax profit of £195 million for the fiscal year ending March 2023, a six-fold increase from the previous year, showcasing the bank’s robust financial health and operational success.
Boden expressed her satisfaction with Bhatia’s appointment, stating, “I am pleased that in Raman we have found someone who can take Starling into its next phase of growth while cherishing the culture and values we have worked so hard to instil in everything we do.”
Bhatia, expressing gratitude for his appointment, shared, “I am truly honoured to lead Starling, a company I have long admired for its commitment to leveraging technology to serve its customers and team members best.”
Starling Bank, under the incoming leadership of Raman Bhatia, stands on the brink of an exciting new era, poised to further cement its position as a leading figure in the digital banking landscape.