Neil Woodford, private equity investor Jon Moulton and former Goldman Sachs Asset Management chair Jim O'Neill are among those to have backed digital bank Atom ahead of its 2015 launch.
The bank, which aims to be the UK's "first bank designed for digital", has raised £25m in funding from a variety of City investors, with Woodford's equity income fund becoming a major part of the company's shareholder base. The investment represents just the second bank the manager has bought over the past decade; Woodford opened a small position in HSBC earlier this year but later sold the stock on fears of ‘fine inflation'. The manager is one of 30 investors to have joined the latest funding round. Polar Capital and former Brewin Dolphin COO Simon Still are among Atom's original ...
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