Monzo EU CEO Michael Carney Steps Down to Build AI and Robotics Startup for People With Disabilities
Monzo EU CEO Michael Carney Steps Down to Build AI and Robotics Startup for People With Disabilities #
Michael Carney, chief executive of Monzo’s European Union operation, is leaving the UK neobank to found a startup using artificial intelligence and robotics to support people with disabilities, according to Spanish financial news outlet El Español.
Carney said he will stay in his role while Monzo searches for his successor.
He departs about five months after Monzo launched in Ireland, a market entry he led. Under his leadership, the bank’s European headcount grew to more than 100 staff across offices in Dublin, Barcelona, and Madrid. Monzo entered Spain this past May, opening a waitlist and offering accounts with local Spanish IBANs, Bizum payment integration, and direct debit functionality.
Carney joined Monzo in September 2024, having spent several years as a senior executive at Stripe Europe. A Trinity College Dublin graduate, he had previously worked at Bain & Company, Google, and Twitter. Monzo appointed him to lead its EU operations shortly after the bank secured full banking licences from the Central Bank of Ireland and the European Central Bank.
Monzo’s European expansion is continuing despite the leadership change. The bank has been growing its Spain operations and is expected to target additional EU markets in the months ahead, after pulling back from the United States earlier this year to focus on its home market and Europe.
Carney’s departure comes amid a run of senior leadership changes at Monzo. Group CEO TS Anil stepped down in February 2026 and was replaced by former Google executive Diana Layfield. Long-serving chairman Gary Hoffman also announced his departure in August. No successor to Carney has been named.
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