As the new CFO, Philip will join the leadership team at Chip and lead the finance function.

Prior to joining Chip, Philip was the CFO at Auto Service Finance and Babylon Health, as well as held leadership roles at Funding Circle and GE Capital.

He commented: “I’m very excited to join the team at Chip. They are doing some amazing things, and it’s brilliant to see how resilient the company is. From the recent FCA authorisation and a roll-out of new features (such as giving Chip savers access to FSCS accounts through partner banks), to a lot more news and updates in the pipeline, I’ve joined Chip at a very exciting time. It’s an absolute pleasure to play a key role in shaping the future of Chip and helping build an app that can enable people to save for the rainy days, as well as the sunny ones.”

Simon Rabin, Founder and CEO, added: “I’m delighted to welcome Phil to the team. It has been a turbulent time for everyone, but our savers’ response, and the influx of new savers, are strong indications that not only can Chip weather this storm, but it can also be a very helpful tool in other unexpected financial shocks in the future. As we continue to navigate these uncharted waters, I’m very happy to have Phil on board, and have his wealth of experience and expertise to help us steer this ship.”