A veteran of one of Wall Street’s most powerful banks is to take over as the boss of an ambitious British digital wallet provider.

Sky News understands that Rob Rooney, whose msg recent role at Morgan Stanley was heading its technology operations, has agreed to become chief executive of HyperJar.

Sources said his appointment, three months after he joined HyperJar’s board as a non-executive director, had been announced to staff and investors on Wednesday morning.

Mr Rooney’s appointment is a coup for the start-up, which was founded in 2016 and claims to have 500,000 customers.

The former Morgan Stanley executive invested in the business in a previous funding round.

HyperJar says it helps people to plan their financial journey from depositing money to spending it.

Customers organise their money in what the company calls ‘digital jam jars’, and are able to earn rewards which give them access to partner brands such as Boden and Costa Coffee.

Advanced battery plant in Oxfordshire to be opened later this year, creating up to 300 new jobs

Inflation eases slightly to 10.5% from 10.7% the previous month due to cheaper fuel and clothes, official figures show

Cost of living latest: What does inflation falling mean for interest rates? And what are inflation predictions for 2023?

As part of a management reshuffle triggered by Mr Rooney’s appointment, the company’s founders – Paul Rolles and Mat Megens – will hold the respective titles of architect, business and architect, consumer.

Scott Davies, a HyperJar board member since 2019, has become the company’s chairman.

HyperJar declined to comment.

Related posts:

‘Outrageous’ Serco gives £5m bonus to frontline staff and £17m to shareholders Vauxhall plant future in the balance as government guarantee sought Liberty Steel plans to restart production next week despite funding crunch LCF scandal: MPs question if City watchdog would meet its own accountability standards Premier Miton approaches R&M about asset management merger US, China and UK among nations joining forces in bid to ease oil prices Oil soars back above $105 as Ukraine crisis sanctions intensify House prices growing at fastest rate since 2004 Fracking U-turn as Cuadrilla’s UK wells given stay of execution by regulator Ex-ASOS chief Beighton to take reins at Matchesfashion Discount given to households that cut peak time energy use rises from 52p to £3 Moody’s rating agency cuts UK outlook to negative