Monument (the bank), the UK’s pioneering cloud-native bank dedicated to serving the mass affluent, today announces the appointment of Shaun Bohannon as Chief Technology Officer (CTO).
Shaun will play a pivotal role in driving Monument’s mission to provide innovative, high-quality financial solutions to the UK’s 11 million mass affluent individuals, who collectively hold over £6 trillion in wealth.
With over 15 years of experience leading technology innovation across enterprise and start-up environments, Shaun brings an exceptional track record of scaling digital solutions and leveraging cutting-edge technologies. At Monument, he will spearhead the development of AI-driven and cloud-based financial products tailored to meet the unique needs of the mass affluent market.
Shaun’s appointment comes at an exciting time for Monument. The bank has achieved remarkable milestones, including a 400% growth in client deposits over the past year, reaching £5 billion. This rapid growth highlights Monument’s dedication to transforming financial services for the mass affluent through exceptional client care and innovative product design.
Monument recently expanded its offering with the launch of a Cash ISA and its Membership programme, further strengthening its position in the UK market.
Before joining Monument, Shaun was the Director of Digital Technology at Virgin Media O2, where he led the design and implementation of flagship customer-facing systems. Prior to this, he spent eight years at McKinsey & Company, driving global transformation initiatives with a focus on leveraging cloud native technologies to create business value.
Shaun’s expertise in both enterprise and start-up technology environments will take Monument’s technology offering one step further, by helping to build and scale innovative financial products with the use of AI and cloud technologies, tailored to their mass affluent client base.
The appointment follows Monument’s recent announcements that support its acceleration to scale up in the UK. In December 2024, Monument announced a new milestone of reaching £5 billion in client deposits. This amounts to an increase of 500% in the past 12 months, and over 2,000% in the past 18 months. The announcement was followed by a successful product expansion, with the launch of their Cash ISA, and their Membership offering.
Shaun’s leadership will further enhance Monument’s use of AI and cloud technologies to deliver bespoke financial solutions tailored to the £6 trillion mass affluent market.
Ian Rand, Chief Executive Officer of Monument said: “Shaun’s deep expertise in AI and cloud technologies will be instrumental as we scale Monument’s offerings to meet the unique needs of the mass affluent community. Together, we aim to redefine what it means to serve this market and create an exceptional experience for our clients”
Shaun Bohannon, incoming Chief Technology Officer at Monument said: “The growth of Monument has been phenomenal to watch from the outside, and I’m so excited to join the team as we aim to further build and scale our product offering.
When choosing my next role, it was crucial to find a company whose purpose aligned with my own passion and values - with Monument, I have found both. Not only that, but getting to know more about their unique proposition, it reassured me I will join a brand that truly cares about its clients and treats their wealth with the same dedication as if it was their own.
“I am looking forward to be a part of their journey and further build the stepstones of a monumental brand.”