Atom Bank wants to inspire staff back to the office
The boss of Atom Bank said he wants to inspire his staff back to the office as he announced plans to relocate its headquarters to Newcastle.
Chief executive Mark Mullen has confirmed plans to move its head office from The Rivergreen Centre in Durham to The Pattern Shop in Newcastle.
The Pattern Shop was where industrial pioneer Robert Stephenson built steam locomotives in the 1800s for export around the world.
Atom Bank employs more than 550 people and is to retain its links to Durham through the Atom Futures Fund, AMI Women in Technology Scholarships and its Memorandum of Understanding with Durham University.
‘This isn’t just an office – it’s a symbol of who we are as a brand’
Mullen sad: ““Our investment in the iconic Pattern Shop is a bold statement about how we see the future of work.
“While many companies are backtracking on past commitments, and forcing their people back to the office, we’re doing the opposite – we’re creating a social space that brings people together because it’s inspiring, not because it’s mandated.
“We’re building a culture of trust at Atom, with the flexibility to work how and where people are most happy and productive.
“The Pattern Shop played a key role in shaping the modern world. With its unique character and rich history, it is the perfect place to reimagine what a company HQ can be.
“This isn’t just an office – it’s a symbol of who we are as a brand. Its deep roots in the North East industrial heritage mirrors our ambition to build on tradition with bold, modern thinking.
“The move comes at an exciting time for the bank as we continue to grow. We’re now the UK’s most trusted bank on Trustpilot, delivering market leading products, whilst at the same time achieving industry-leading employee engagement.
“Other businesses may use the blunt instrument of ‘back to the office’ diktats but at Atom, as always, we look to do the right thing. Our move to the Pattern Shop and Newcastle reflects that.”
Knight Frank secured the letting on behalf of Newcastle City Council and its development partner, igloo Regeneration, with JLL representing Atom in the negotiation of the term of the lease documents.
The head office moves comes after Atom Bank became the latest UK digital lender in 2024 to swing to its first annual pre-tax profit, with the group benefiting from higher interest rates and a jump in mortgage lending.
The lender, which launched in 2016 as the UK’s first app-based bank, posted a pre-tax profit of £7m in 2023, swinging from a £10.1m loss in 2022.
Atom’s operating profit surged 600 per cent year on year to £27m, while its costs up ticked up just four per cent, which it said demonstrated “the success of its efficient, sustainable and scalable business model”.
Atom Bank first moved to a four-day working week for all employees with no loss in salary in November 2021.