Monzo co-founder quits to farm alpacas
Monzo co-founder and deputy CEO, Paul Rippon, is stepping down from his role at the UK challenger to farm alpacas with his wife in Northumberland.
In a post on his LinkedIn page, Rippon stated he is leaving the bank he co-founded in 2015 “to go and enjoy life” and dedicate his time to his other business interest.
Rippon and his wife Debbie formed Barnacre Alpacas in 2007 on their Northumberland farm, which now boasts 300 alpacas.
“It’s been my privilege to co-found Monzo back in February 2015 and serve as Deputy Chief Executive,” Rippon states. “It’s now time for others to enjoy the next stage of the journey to help money work for everyone.”
He adds that he will now be found “doing the feed rounds, hosting alpaca walk ’n’ talks and driving my tractor”.
While it is his wife who has done most of the work on their farm, Rippon has attempted to balance his life between London and the North East, but reducing his working hours at Monzo has not reduced “the cognitive and emotional overhead”.
Rippon worked at Starling Back at its chief risk officer in 2014-15, before departing to found Monzo alongside CEO Tom Blomfield.
The 27-year banking veteran started his career at Natwest, before joining Northern Rock in 2006 and then spending two years as head of banking operations at AIB.