Monzo to launch in Spain, as ramps up EU expansion plans

Monzo , the UK digital bank, is to launch in Spain, ramping up its European expansion plans, following its exit from the US market. Monzo has set up offices in Barcelona and Madrid, with over 50 employees, and plans to grow the team over the next year, it said. It has also appointed Francisco Sierra, a former Western Union banking executive, as country manager for Spain, who will report to European boss Michael Carney.