Laurel Powers-Freeling has joined saving and investing app Moneybox as independent non-executive chair.
Powers-Freeling will provide strategic counsel and governance oversight across all aspects of the fast-growing business which now serves more than 700,000 customers and earlier this year surpassed £2 billion in assets under management.
She will also act as a senior ambassador for the company. Laurel’s appointment is subject to FCA approval.
Powers-Freeling has held numerous board, senior advisory and management positions with organisations including the Bank of England, Sumitomo Mitsui Bank, Bank of Ireland, Atom Bank, Marks & Spencer/M&S Money, Amex, the Prudential, and Lloyds TSB.
She has guided companies that serve the needs of millions of consumers every day, with extensive knowledge of financial product business design and delivery, and is experienced in working within fast-growth environments, most recently as chair of Uber UK.
“Laurel brings a wealth of knowledge and invaluable experience to the Moneybox board and we are thrilled that she has chosen to join us on our journey to becoming one of the biggest saving and investing platforms in the UK,” said co-founder Ben Stanway.
“Just over a year ago we successfully raised £38.8m series C investment and welcomed more than 16,000 customers as shareholders in one of the most successful crowdfunding campaigns in recent years and we are now in an exciting new phase of growth.
“Moneybox exists to help people build wealth with confidence so they can enjoy life, today and tomorrow and Laurel’s passion and support for our mission were evident from our earliest conversations.”
Powers-Freeling added: “I’m absolutely delighted to join the Moneybox board and feel inspired and excited to work alongside the team at such an important juncture. I truly believe that Moneybox has the opportunity to lead a revolution in how everyone engages with their financial lives and ambitions.
“The team has created an astonishing platform and a suite of easy-to-use tools and products that offer great value, are accessible and easy to understand. The financial needs of so many people remain underserved by traditional–and even more of the more recent–financial services organisations. While the UK has many providers of savings and investments, their products and services are often complicated, opaque, and inaccessible.
“Moneybox is the opposite of all that: it’s straightforward, transparent, and democratic. These days, everybody talks about having a platform and being a disruptor: both Ben and Charlie have proven disruptor experience and understand the importance of building and retaining customer loyalty on a platform that delivers a differentiated and relevant approach to addressing customers’ needs. Watch this space.”