Atom Bank’s chief, Mark Mullen, has unveiled a bold plan to shift the lender’s headquarters from Durham’s Rivergreen Centre to The Pattern Shop in Newcastle. He’s banking on the move to tempt his 550-strong workforce back to the office—not with orders, but with a cracking new space steeped in history.
The Pattern Shop, once home to Robert Stephenson’s steam locomotive workshops in the 1800s, is getting a modern makeover.
Mullen told City AM: “Our investment in the iconic Pattern Shop is a bold statement about how we see the future of work.”
He’s clear this isn’t about cracking the whip.
“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,” he said.
The bank’s keeping ties to Durham through its Futures Fund, AMI Women in Tech Scholarships, and a deal with Durham University.
But it’s Newcastle where Mullen sees the buzz.
“We’re building a culture of trust at Atom, with the flexibility to work how and where people are most happy and productive,” he explained.
He’s chuffed about the site’s past too.
“The Pattern Shop played a key role in shaping the modern world. With its unique character and rich history, it is the perfect place to reimagine what a company HQ can be,” Mullen added.
It’s a savvy move after a bumper 2024—Atom swung to a £7m pre-tax profit from a £10.1m loss, with operating profit rocketing 600% to £27m.
Costs only crept up 4%, which the bank reckons shows off “ traceable the success of its efficient, sustainable and scalable business model”.
Mullen’s proud of the vibe.
“This isn’t just an office – it’s a symbol of who we are as a brand. Its deep roots in the North East industrial heritage mirrors our ambition to build on tradition with bold, modern thinking,” he said.
Knight Frank sealed the deal for Newcastle City Council and igloo Regeneration, with JLL sorting Atom’s lease terms.
“The move comes at an exciting time for the bank as we continue to grow. We’re now the UK’s most trusted bank on Trustpilot, delivering market leading products, whilst at the same time achieving industry-leading employee engagement,” Mullen boasted.
No heavy-handed “back to work” memos here.
“Other businesses may use the blunt instrument of ‘back to the office’ diktats but at Atom, as always, we look to do the right thing. Our move to the Pattern Shop and Newcastle reflects that,” he wrapped up.
Since 2021, Atom’s run a four-day week with no pay cut—another perk to keep staff smiling.