Dame Jayne-Anne Gadhia, who now chairs HMRC, would be unveiled as Moneyfarm’s new chair on Monday, fueling suspicion that the app is preparing for a stock market listing.

The bank executive who was instrumental in transforming Virgin Money into one of Britain’s largest high-street lenders has been tapped to lead a British-based digital wealth manager.

Dame Jayne-Anne Gadhia will be introduced as chair of Moneyfarm on Monday.

The appointment of Dame Jayne-Anne likely sparked rumors that Moneyfarm. Which is backed by the asset management firm M&G Investments, is preparing for a stock market offering.

Moneyfarm, which was founded in 2012, has approximately £2.5 billion in assets under management and over 90,000 active investors as clients.

Poste Italiane, the Italian postal service, and Allianz Asset Management are also shareholders.

Dame Jayne-portfolio Anne’s jobs includes chairing HM Revenue & Customs and Snoop, a money-saving app she founded and manages.

Her work in guiding Virgin Money to and through its initial public offering is likely to have piqued the interest of Moneyfarm’s founders and board.

She stated, “Moneyfarm has a clear vision and strategy to achieve this. Which reminds me of my early days at Virgin Money.”

It has the same passion, drive, and inventive culture. Also a varied clientele and business model that empowers everyone to take charge of their financial future.

Giovanni Daprà, one of Moneyfarm’s co-founders and its CEO, stated, “When looking for a new Chair. We wanted to appoint someone with significant expertise in the financial services sector. And a track record of delivering high levels of corporate governance. And stakeholder engagement in a highly regulated and rapidly growing industry.”

Moneyfarm has raised approximately £140 million since its inception.