Starling Group’s chief risk officer is to leave the digital bank to pursue a portfolio career.
The firm said that over the last two years, Cyrille Salle De Chou led a programme to scale Starling’s risk controls and to further embed risk management into the bank’s culture.
Between September 2021 and November 2023, prior to him joining the firm, Starling – founded in 2014 by Anne Boden and backed by Goldman Sachs – was found to have opened over 54,000 accounts for 49,000 high-risk customers.
The Financial Conduct Authority subsequently fined Starling £29 million for financial crime failings related to its financial sanctions screening.
De Chou joined in February 2024 – months before the fine was issued – after seven years performing related roles at HSBC. Prior to that he spent six months at RateSetter, having previously served risk director roles at Lloyds Banking Group.
Starling has named Keith Algie as his successor, subject to regulatory approval.
Algie joined Starling this month to begin a handover and will become a member of Starling’s executive committee.
He brings over two decades of risk management experience, having spent the last 15 years at ANZ.
During his time at ANZ he served as chief risk officer Europe and Americas, then chief risk officer international and Hong Kong, and more recently as acting group chief compliance officer.
He joins Starling as the group prepares for its next phase of growth. In the UK, the bank has refreshed its brand and is preparing to launch a major customer acquisition programme.
Internationally, the group’s Software-as-a-Service business, Engine by Starling, recently announced new client wins in Canada and New Zealand.
Raman Bhatia, group CEO, said: “I’m delighted to welcome Keith to my leadership team, confident that his broad risk management expertise and international experience will be invaluable to us as we scale the group in the UK and overseas.
“I’m sorry to see Cyrille go after his contributions to enhance our risk management capabilities. On behalf of everyone at Starling, I thank him for his achievements and wish him every success in the next phase of his career.”