Digital bank Atom appoints chief financial officer

Atom Bank has added to a string of high profile appointments, with David McCarthy set to join the team

David McCarthy, Atom Bank's new chief financial officer

The UK’S first truly digital bank, set to launch in the North East early next year, has appointed a chief financial officer.

Atom Bank, which could ultimately create around 300 jobs in the region, is giving the role to David McCarthy, a chartered accountant and corporate treasurer with over 23 years of financial management experience in retail banks and building societies.

His is the latest high profile appointment at the business, established by founder of Metro Bank Anthony Thomson and chief executive of First Direct Mark Mullen, who will take on the roles of chairman and chief executive respectively.

Also joining the team will be North East LEP director Edward Twiddy, who will be chief operating officer.

Craig Iley, meanwhile, has been appointed managing director of business banking and Stewart Bromley as HR director. Sophie Haagensen will take responsibility for innovation at the company.

Since qualifying with Touche Ross, McCarthy has since held a number of senior financial roles in Bristol & West, Bank of Ireland and Britannia

Most recently, he has been chief financial officer then interim chief executive of Home & Savings Bank.

He brings to Atom considerable expertise in financial and risk management, as well as detailed knowledge of retail banking products and regulation.

Thomson said: “David will take up a crucial role within the Atom management team and his knowledge will be invaluable as we continue to develop our products and services.

“David’s experience of financial services PLC, mutual and start-up sectors, is exactly the talent we need for this bank. I am delighted to welcome him to Atom’s senior team.”

Atom, a branchless bank that will be focused on providing the best possible customer experience, will start out with around 120 employees, but over time the intention is to grow this to around 300, the vast majority of the jobs being created in the North East.

Although the firm has committed to establishing itself in the region, it is yet to confirm an exact location.

The new venture will offer the full range of banking services, with the retail end being rolled out nationally from the start and the business side being launched in North East first.

Thomson, a well-known pioneer when it came to spotting the decline of the high street bank, said last month: “Business has been under-serviced by the banks, particularly in the North East.

“We want to bring a greater degree of digital banking to the business world than has been seen before. Helping SMEs is also at the forefront of what we are doing.”

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