Atom Bank founder Anthony Thomson has stepped down from his role as chairman.
Thomson is set to be replaced by Bridget Rosewell, one of the company's existing non-executive directors, who is also on the board of Network Rail and a former non-executive at the Department of Work and Pensions and Ulster Bank.
Anthony Thomson set up Atom Bank, which has American musician Will.I.Am as its strategic advisor, in Durham in 2014.
Since launching, the challenger bank has taken over £1bn of deposits and has now lent over £1bn to businesses and homeowners.
In a statement, Thomson said: “I specialise in disrupting, creating and building and I hope this will be my contribution to the Atom bank story. I have loved doing this with Atom but, as the bank moves into a new phase of development, I feel the time is right for me to step down from the role of chairman.
"As founder I remain fully committed to Atom bank’s success and will remain a shareholder."
Bridget Rosewell said: "Anthony is the consumer’s champion, leading from the front to bring true competition to the industry and to change banking for good.
"It is with regret but also great admiration that the board have accepted his resignation, and I and my colleagues fully understand his reasons for leaving having brought the business to maturity and achieved so much so quickly."