The chairman of Atom bank, Anthony Thomson, late last night announced his resignation from the digital challenger.
Thomson, who founded Atom, had been the chairman since the app-only bank was established in 2014. Since launching, it has taken over £1bn of deposits and lent more than £1bn to small businesses and homeowners.
Singer Will.i.am is a strategic board adviser.
Bridget Rosewell, who is the chair of Atom’s audit committee, has been appointed to take over, subject to regulatory approval.
Rosewell is also chairman of the Driver Vehicle Standards Agency and on the board of Network Rail, as well as a commissioner with the National Infrastructure Commission.
“I specialise in disrupting, creating and building and I hope this will be my contribution to the Atom bank story. I have loved doing this with Atom but, as the bank moves into a new phase of development, I feel the time is right for me to step down from the role of chairman,” Thomson said in a statement late last night.
"As founder I remain fully committed to Atom bank’s success and will remain a shareholder."
"Anthony is the consumer’s champion, leading from the front to bring true competition to the industry and to change banking for good," Rosewell said.
"It is with regret but also great admiration that the board have accepted his resignation, and I and my colleagues fully understand his reasons for leaving having brought the business to maturity and achieved so much so quickly."