Starling eyes NYSE listing
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The potential move, which was reported by the Financial Times, would be a blow to the UK government's ambitions of reviving the country's fintech sector.
It would also signal a change from Starling given comments made in 2024 by former chief executive John Mountain, who served as interim chief after the departure of long-term chief executive and founder Anne Boden.
Mountain had described London as the "natural home" for the fintech and the bank even went as far as advertising for a London-based executive to work on the execution of a "successful IPO or other capital event".
However, Starling's chief financial officer, Declan Ferguson, told the FT that while no decision had been made on where the bank would list, it was considering the US as a potential home for its listing.
'We continue to observe what is happening externally with our peers, and also what is happening on the global stage in terms of the UK versus US [stock markets],' he said.
One reason for considering a US listing would be the potential to achieve a higher valuation than in the London market.
Starling is also looking to expand in the US prior to any listing and has reportedly looked at acquiring a US bank.
Other UK-based digital banks, Monzo and Revolut, are similarly looking to grow their presence in the US market.
Should Starling decide to list in the US rather than the UK, it will be discouraging for the UK government and chancellor Rachel Reeves who has earmarked the growth of the fintech sector and an increase in IPOs as priorities.
The report on Starling also comes a month after online money transfer platform Wise, another prominent UK fintech, annoucned that it was moving its primary listing from London to New York.
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