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She is replacing previous COO Tom Foster-Carter, who left the bank in November to found a groceries startup.
Prior to Monzo, Bhatia worked at American Express for nearly 16 years, most recently as Senior Vice President for Global Merchant Services Europe.
Bhatia joins Monzo at an unstable time for most fintech companies. The challenger bank has recently been forced to make widespread personnel changes in an attempt to protect itself from the coronavirus crisis and resulting economic downturn.
In March, Monzo’s Co-founder and CEO Tom Blomfield announced he would not take a salary for the next 12 months, and the senior management team and board would take a 25 percent pay cut.
Monzo also shut its customer support office in Las Vegas, seeing 165 customer support staff lose their jobs, and furloughed 295 staff in the UK.