Atom Bank is to move its headquarters from Durham to Newcastle in a multi-million pound ofice investment.
The new HQ will be based at the Pattern Shop, a Gardee II listed building in Tyneside where Robert Stephenson built steam locomotives in the 1800s for export around the world.
Atom, which employs 550 staff, was the first bank, to move to a four-day working week for all employees with no loss in salary, in November 2021. The shift has been an overwhelming success, with a 65% reduction in attrition in the three years since its introduction, alongside a 9% increase in employee engagement to 81%.
This approach sets it apart from many established and challenger firms in the financial services sector, who are increasingly requiring more frequent or permanent office attendance,.
Mark Mullen, chief executive of Atom bank, said: “Our investment in the iconic Pattern Shop is a bold statement about how we see the future of work.
“While many companies are backtracking on past commitments, and forcing their people back to the office, we’re doing the opposite - we’re creating a social space that brings people together because it’s inspiring, not because it’s mandated. We’re building a culture of trust at Atom, with the flexibility to work how and where people are most happy and productive."