The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
140 jobs Number of planned job creations
Announcement Date
18 July 2014
Employment effect (start)
18 July 2014
Foreseen end date
30 June 2015
Description
New entrant into the UK retail banking sector, Atom will create 140 new jobs by the middle of 2015. The bank has plans to expand and to create up to 400 jobs. The bank will offer customers a range of personal and business banking products. It will operate entirely as a digital bank, meaning there will be no branches with all banking to be done by customers using their smartphones or computers. Atom currently has a management team of around twenty and the announcement of the creation of the new jobs follows a decision by the management to locate the head office in Durham.
Locating the business in Durham was chosen ahead of five other potential locations across the north-east of England. Durham was chosen because of its location on the rail network, being home to a high-ranking university and the city's reputation for being a good place to work and live. The bank has received support from the Durham County Council, including the Council vacating the premises where the bank will be headquartered. The bank has said that it will look to recruit the necessary specialist staff from Durham, Leeds, Newcastle and London.
Eurofound (2014), Atom Bank, Business expansion in United Kingdom, factsheet number 77333, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77333.
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