In a year defined by pivotal leadership shake-ups across the global financial landscape, we sit down with Priya Jaiswal, a recognized authority in banking and finance, to dissect the most significant moves of 2025. From the calculated, long-term succession planning at challenger bank Monzo to the abrupt leadership changes at software giant Temenos, the year’s events offer a compelling look into the strategic pressures shaping the industry. We’ll explore how institutions like Revolut are strategically positioning leadership to navigate complex regulatory environments, while giants like Santander and HSBC are recalibrating their technology and governance strategies through key appointments, signaling a broader industry trend toward stability and deep, specialized expertise.
Monzo announced a lengthy transition for its CEO, with TS Anil stepping down in 2026. What does this deliberate handover signal about Monzo’s strategy, and how might Diana Layfield’s background at Google and Standard Chartered influence their next phase of growth?
This is a masterclass in strategic succession. Announcing a transition well over a year in advance is a clear signal to the market, to employees, and to customers that Monzo is prioritizing stability and a seamless transfer of power. After five years of transformative leadership under TS Anil, they aren’t risking a sudden vacuum. This approach minimizes disruption and shows a level of maturity that is crucial for a challenger bank solidifying its place as a mainstream institution. Bringing in Diana Layfield is a fascinating move. Her experience at Google speaks to a future focused on data, platform ecosystems, and scaling technology efficiently, while her time at Standard Chartered provides the traditional banking and global market discipline that Monzo needs as it expands. This blend suggests Monzo is gearing up to compete not just as a UK fintech, but as a sophisticated global financial technology company.
Revolut appointed Béatrice Cossa-Dumurgier as Western Europe CEO with a primary goal of securing a French banking license. What specific challenges does this regulatory process entail, and how does her experience at BNP Paribas give Revolut an edge in navigating the ACPR and ECB?
Securing a full banking license from regulators like the ACPR and the ECB is an incredibly demanding and high-stakes endeavor. It goes far beyond just filling out paperwork. Regulators conduct a forensic examination of a company’s capital reserves, its risk management frameworks, its anti-money laundering protocols, and the very stability of its technology stack. They need absolute confidence that the institution can protect customer deposits and operate without posing a systemic risk. This is precisely where appointing someone like Béatrice Cossa-Dumurgier becomes a strategic masterstroke. Having come from a pillar of the French banking establishment like BNP Paribas, she possesses an innate understanding of the regulatory mindset. She knows the people, she speaks their language, and she understands the unwritten rules and expectations. This gives Revolut a credibility and an inside track that an outsider, no matter how brilliant, would struggle to replicate.
The departure of Temenos CEO Jean-Pierre Brulard was notably abrupt. Given the board’s call for a leader with “deep expertise” for the next phase, what specific market pressures or strategic shifts might have prompted this sudden change, and what does promoting the CFO signal?
An immediate departure like this is almost always a sign of significant pressure and a fundamental disagreement on strategy. The board’s statement about needing “deep expertise in our field of operation” for the “next phase” is carefully chosen language. It implies that Brulard, despite his impressive background at VMware, was perhaps not the right fit for the specific challenges Temenos now faces as a core banking software provider. This could stem from investor dissatisfaction, competitive threats from more agile cloud-native players, or a need to double down on their core financial technology product rather than broader tech strategies. Promoting the CFO, Takis Spiliopoulos, is a classic move to restore confidence. He’s a known quantity who has been with the company for six years. It tells the market, “We have a steady hand on the wheel who understands the financials inside and out, and we are focused on stability and execution during this transition.”
Santander’s new COO and tech officer, Juan Olaizola, is tasked with building a “business-oriented back-end.” Can you detail what this practically means for their operations, and how his work will build upon or diverge from the ‘Gravity’ core banking solution developed by his predecessor?
Building a “business-oriented back-end” is a crucial evolution in how large banks think about technology. For years, the back-end was just the plumbing—the slow, complex systems that processed transactions. This new mandate means transforming that plumbing into a dynamic, flexible platform that directly enables business goals. In practice, this means creating systems where new products can be launched in weeks instead of months, where customer data can be leveraged in real-time to personalize services, and where different business lines can easily integrate and share capabilities. Juan Olaizola will build on the impressive foundation of Gravity, the self-built core banking solution developed under his predecessor. However, his focus will likely shift from just building the technology to ensuring that technology is inextricably linked to commercial outcomes, giving the business units the tools and agility they need to innovate at the front-end where customer interactions happen.
HSBC confirmed internal candidate Brendan Nelson as group chair after reportedly considering high-profile outsiders. What does this choice indicate about the board’s priorities for stability, and how might his extensive background at KPMG and NatWest shape HSBC’s governance moving forward?
This decision speaks volumes about HSBC’s current priorities. After a period of considering big, external names, the choice to appoint Brendan Nelson, who was already on the board and serving as interim chair, is a clear vote for stability, continuity, and deep institutional knowledge. For a globally systemic bank like HSBC, predictability in leadership is paramount. An external chair, no matter how distinguished, would face a steep learning curve. Nelson, with his 25 years at KPMG and non-executive roles at NatWest, brings an immense depth of experience in the intricacies of financial regulation, risk management, and the specific governance challenges facing a massive UK-based bank. His appointment reassures regulators and investors that the bank is in safe, experienced hands and is focused on steady navigation rather than a dramatic, and potentially risky, strategic pivot.
What is your forecast for leadership trends in the financial technology sector for the upcoming year?
I foresee a significant trend toward what I call “hybrid leaders.” The days of having a pure technologist who doesn’t understand financial regulation, or a traditional banker who doesn’t grasp platform dynamics, are over. As we saw with Monzo, firms are seeking executives who have a foot in both worlds. Secondly, regulatory acumen is moving from a desirable trait to an essential one for C-suite roles, especially as fintechs mature and come under greater scrutiny. The Revolut appointment is a prime example of this. Finally, for the established giants, I believe the “insider” will become increasingly valuable. In a world of geopolitical uncertainty and complex market dynamics, the stability and proven track record of an internal candidate like HSBC’s chair often outweighs the potential disruption of a high-profile outsider. The focus will be less on revolutionary visionaries and more on experienced, pragmatic leaders who can execute flawlessly.
