The bank believes that the new chief of staff will be central to maintaining the momentum of scaling up and establishing itself in the mass affluent community.

Monument, the UK "neo-bank," has appointed Craig Blackburn as chief of staff, reporting to chief executive officer, Ian Rand.

Blackburn will support the senior leadership team to drive company-wide progress on projects and initiatives. The bank said in a statement yesterday that it is aims to meet the "unmet demands of mass-affluent clients" – a market of around seven million professionals, entrepreneurs, property investors, and others. The UK market is said to be worth about £6 trillion ($7.52 trillion).

The appointment follows Monument’s recent announcements that support its acceleration to scale up in the UK. In January 2023, Monument said that Dubai Investments had bought a 9 per cent equity stake in the bank. In February 2023, Monument released its new Member Services proposition, giving the mass-affluent community and their families convenient access to services that promote prosperity – spanning lifestyle, family, health, career, tax, property, and much more.

Blackburn has extensive experience of leading strategic initiatives. Most recently, he worked at Estel Property Group Limited as chief operating officer. Prior to this, he served in several senior posts in the Royal Navy, including chief operating officer and de-facto chief executive officer.

Introducing Blackburn, Rand said: “I’m delighted to have Craig join our team at Monument. His role will be central to maintaining the momentum we’ve built to date as we focus on scaling up and launching innovative solutions to serve the mass affluent community and firmly establish our position in the market.”

Blackburn added: “Monument has reached an inflection point in its journey, and I’m excited to be joining as the bank goes from strength to strength and continues to grow its offering to serve the mass affluent community, who have for too long been overlooked.

“After hearing more about Monument’s unique proposition and seeing first-hand the positive culture they’ve fostered, I was instantly keen to be a part of their journey and use the lessons I’ve gained over the course of my career in a new area of financial services, and I look forward to the challenge that lies ahead.”

Monument, which was the first neo-bank to be launched in the UK, received its full banking licence in November 2021 at which point it began its property investment lending.