Anthony Thomson, the founder of UK challenger bank Atom is to step down from the chairmanship of the Durham-based lender as it reputedly finalises a £150 million fundraising round.
Thomson will be succeeded by Bridget Rosewell, one of the company's existing non-executive directors.
Atom Bank has confirmed the news in a tweet, and commemorative YouTube video.
Launched in 2016, Atom has secured £1 billion in deposits for its market-beating savings account. Unlike other mainstream challenger banks, Atom has so far shied away from the current account market, citing regulatory pressures.
Speaking of his decision, Thomson says: “Since having the idea for Atom bank in early 2012 it has gone from being a big idea disguised as a small bank to a big idea and a big bank. 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."
Prior to founding Atom with First Direct chief Mark Mullen, Thomson had been instrumental in the launch of new high street bank Metro.
According to Sky News, Atom is set to clinch a £150 million raise next month, with existing investor BBVA acting as the underwriter.
The funding round will take the total sum raised by Atom to about £400m.