ANNE BODEN SELLS REMAINING STARLING STAKE

Anne Boden has sold her remaining 2.7 per cent stake in Starling to existing shareholders. The sale valued the digital bank at £1.7bn and would have raised roughly £45m for Boden. Harald McPike, identified as Starling’s largest investor, was among the buyers. A Starling spokesperson said: “Our founder has sold her remaining shares in Starling privately to several existing shareholders.” The spokesperson said Starling knew about the transaction.

Starling had sought a £4bn valuation in a secondary share sale last year that would allow existing shareholders to reduce their holdings. Boden’s stake had fallen from 4.3 per cent to about 2.7 per cent during that process, according to filings in February. She held 4.9 per cent when she announced in May 2023 that she would step down as chief executive. Boden launched Starling in 2014 after senior roles at Allied Irish Banks and Lloyds. She said at the time of her departure that it was “not really appropriate” for the bank to have a shareholder as its chief executive.

Starling reported pre-tax profit of £217.1m for the year to 31 March 2026, down from £223.4m a year earlier. The bank reported revenue of £887.4m, down from £940m. Starling cited the Bank of England’s falling base rate and a £20m investment in its Engine software business as factors behind lower profit. Boden has begun recruiting software engineers for an AI project named Moonshot. Starling’s spokesperson wished Boden success with her new venture.