Digital challenger bank Atom has officially opened its new headquarters in the heart of Newcastle, marking a significant relocation and a multimillion-pound investment in the North East.
A New Chapter in a Historic Building
The bank, which spent its first decade based in Durham, has now moved its operations to the historic Pattern Shop building on Tyneside. The site was once the home of Robert Stephenson and Co's engineering works. Around 600 jobs have been transferred to the new city-centre location, which is designed to support the lender's hybrid working model.
To mark the official opening, Economic Secretary to the Treasury, Lucy Rigby KC MP, visited the premises this week. She unveiled a commemorative plaque and toured the operations, meeting new starters, apprentices, and graduates to discuss digital skills.
Ministerial Engagement with Business and Start-ups
During her visit, Ms Rigby was given demonstrations of Atom's lending processes and its support for vulnerable customers. She was accompanied by local business leader and member of the Mayor's Business Board, Sophie Milliken.
The Minister also held a discussion with 12 female founders from the region about their successes and challenges. Furthermore, she was introduced to a series of North East start-ups from sectors including life sciences, low carbon, and financial services, alongside venture capital investors and SME loan providers. Their conversations focused on financing and the barriers faced by firms with high growth potential.
Commitment to the North East and Innovation
Mark Mullen, CEO of Atom Bank, said: "We are incredibly proud to welcome the Economic Secretary to The Pattern Shop. This building has a legacy of innovation dating back to Robert Stephenson’s pioneering work, and now we are writing the next chapter."
"Our new office represents not only a commitment to the North East, but a commitment to our people—providing a modern, flexible and collaborative working environment that allows us to build a bank that will be here for another hundred years and beyond," he added.
Economic Secretary Lucy Rigby stated: "Atom bank’s decision to expand in Newcastle and bring nearly 600 high skill fintech jobs with it is another clear vote of confidence in the UK’s world leading fintech sector. This investment will support long term careers in cutting edge high skill jobs, help power local growth and put more money in people’s pockets."
Councillor Karen Kilgour, leader of Newcastle City Council, commented: "This is a landmark day for Newcastle and a huge endorsement of our ambition for regional growth. Atom bank's investment in The Pattern Shop—a historically significant site—preserves Newcastle's heritage while securing the future through high-quality job creation."
Financial Performance
The move follows the publication of Atom's latest accounts. For the year to the end of March 2025, the bank reported:
- Total interest income grew from £441m to £442m, driven by lending growth.
- Customer deposits reached £7.5bn, up from £5.7bn.
- Operating profit was £25m, down from £27m the previous year.
The bank's establishment in its new Newcastle headquarters solidifies its position as a major employer and investor in the North East's burgeoning technology and financial services landscape.
