The appointment comes hot on the heels of Atom’s announcement that the Prudential Regulation Authority and the Financial Conduct Authority have approved its digital business model.
Ms Powers-Freeling was recently appointed as Chairman of Sumitomo-Mitsui Banking Corporation Europe, and brings a deep and wide-ranging expertise of banking and financial services. Formerly CEO of Marks & Spencer Money, she has also held senior executive roles at Lloyds TSB, American Express and the Prudential. From her current and recent Non-Executive roles, Laurel brings experience from the Bank of England, the Bank of Ireland and C Hoare and Co Private Bank.
Anthony Thomson, Chairman of Atom, said:
“I am absolutely delighted that Laurel is joining the Atom Board as our senior independent non-executive. It is another vote of confidence in Atom that we can attract someone of Laurel’s quality, standing and experience. Working alongside our non-executive team of Bridget Rosewell, Patricia Jackson, John Deane and Jon Hogan I am confident that Laurel will help to steer Atom to success.”
Announcing her decision to join the Atom Board, Laurel Powers-Freeling said:
“Atom is a hugely exciting prospect. The combination of a great team, innovative technology and analytics combined with the confidence of the regulators in its business model makes it a pleasure to accept Anthony’s offer to join the Board. There’s a huge amount for the Board and the Executive of a new bank to accomplish, however given the progress to date I am sure we will succeed in delivering a genuinely different approach to banking that customers actually like. There’s a lot of noise about challengers in the UK retail market, but I’m joining Atom Bank because I believe it’s the ‘real deal.’
The appointment is subject to approval and final confirmation by the PRA and FCA.