Monzo CEO shock | Is executive mental health taken seriously?

Tom Blomfield, CEO and Founder of one of the world’s leading challenger banks Monzo this week announced that he is to step down from his role as of February 2021, due to the adverse effects that running the multinational company has had on his mental health and wellbeing.

In an interview with Techcrunch, Blomfield revealed that his passion for his position has been waning for over two years, and that the adverse effects on the business as a result of the COVID-19 pandemic – in which Monzo was forced to close it Las Vegas office and axe staff numbers significantly – massively affected his own mental health.

“I stopped enjoying my role probably about two years ago...as we grew from a scrappy start-up that was iterating and building stuff people really love, into a really important UK bank,” Blomfield said in the interview.

He added: “I think for a lot of people in the world, going through a pandemic, going through lockdown and the isolation involved in that has an impact on people's mental health I don't think I was any different, so I was really struggling.”