LONDON (Reuters) - The chairman and founder of Britain's Atom Bank stepped down on Thursday, saying his job was done after helping the business grow from a big idea in 2012 to an established lender.
Anthony Thomson, who previously co-founded Metro Bank (L:MTRO), one of the most successful challengers to Britain's big four lenders, will be succeeded by Bridget Rosewell, chair of Atom Bank's audit committee.
Since opening for business in 2014 as a digital-only bank focused on savings accounts and mortgages, Atom has collected more than 1 billion pounds ($1.43 billion) in deposits and lent the same amount to small businesses and homeowners.
It is one of a number of branch-free banks that have sprung up in Britain in recent years to take on the likes of Barclays (L:BARC), HSBC (L:HSBA), Royal Bank of Scotland (L:RBS) and Lloyds (L:LLOY).
Atom has gone from "being a big idea disguised as a small bank to a big idea and a big bank", Thomson said in a statement.
"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."
While attracting less limelight than some of its peers, such as app-only bank Monzo, Atom has quietly raised significant funding from high-profile backers including Spanish lender BBVA (MC:BBVA).
So far it has received 250 million pounds from investors and is planning a further fundraising round.