Monitise has announced that user numbers quadrupled in the last year to 17 million. The mobile banking outfit, singled out this week as an example of British entrepreneurial spirit by David Cameron during his Tory conference keynote speech, also revealed a series of executive changes.

John Brougham, chief financial officer, is retiring from the Board with immediate effect and Mike Keyworth, chief operating officer, is joining the Board as executive director. Nick Taylor, as group finance director, will continue to run the finance function and is stepping up to provide direct support to the executive directors.

Elizabeth Buse of Visa Inc. has stepped down as a non-executive director, having served for more than two years on the Monitise Board. Monitise said: “Visa rotates its appointments to other companies' boards from time to time and we are delighted to welcome Ellen Richey, chief enterprise risk officer at Visa Inc., as a non-executive director with immediate effect.”

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