Atom bank will appoint Lee Rochford as its new chair, replacing Bridget Rosewell when she steps down in September.
Rochford was chief executive at financial services business Arrow Global Group for almost five years, leaving in 2021.
Prior to that, he was chief financial officer at Virgin Money for three years, leaving in 2016.
He also worked for Royal Bank of Scotland (now NatWest) for over six years, leaving as head of its Financial Institutions Group for Europe, the Middle East and Africa in 2013.
The app-based lender, founded in 2014, says Rochford’s appointment is subject to full regulatory approval.
Atom Bank chief executive Mark Mullen says: “Ahead of us lie many challenges as we build scale, profitability and maturity on our way to listing the company.
“Bridget’s contribution to Atom over the years has been immense. She has been a wonderful leader at the bank and an enormously supportive personal mentor, for which I am hugely grateful.”
Outgoing Atom chair Rosewell adds: “The journey has been a rollercoaster and always exciting. Unlike a rollercoaster, we’ve travelled a distance and made significant achievements in becoming a trusted and profitable bank.”
Rochford points out: “I am delighted to be joining Atom at this pivotal moment in its journey. The foundations are strong with a thriving culture, strong customer focus and proven technology.
“However, much remains to be done to build consistent profitability and scale the bank if it’s to deliver on its vision.”
In July, the bank said after hitting its first monthly operating profit in the first quarter of 2022, it has delivered three further consecutive quarters of operating profit to the end of March.
Its underlying operating loss narrowed to £2m, a £34m improvement over the previous year.