Headhunters are seeking a successor to Bridget Rosewell as the app-based lender holds talks with investors about raising at least £100m of additional equity funding, Sky News learns.
Sky News has learnt that the company has hired Spencer Stuart, the headhunting firm, to identify a successor to Bridget Rosewell, who has chaired it since 2018.
City sources said the hunt for Ms Rosewell's replacement formed part of a plan to reshape its board ahead of an initial public offering .A 2024 IPO is now seen as likely. Atom Bank raised another £30m in equity from leading shareholders including BBVA, the Spanish bank, in November. It is now understood to be approaching investors about raising at least another £100m in equity, with one insider suggesting it was likely to be closer to £150m.
Mr Mullen said in November that Atom had surpassed £4.5bn in retail deposits"having made waves with the pricing of our fixed and instant savers, opening up a void between banks such as Atom that pay a fair return on savings and those that are simply unresponsive to the market".
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