Anthony Thomson, the founder of Metro Bank and Atom Bank, is seeking to shake up the private banking market with the creation of a new international bank to serve family offices and ultra high-net-worth individuals.
With a working title of Family Offices Bank, Thomson has set a late 2026 timeline for go-live, catering to wealthy individuals and investment groups who are seeking more personalised financial services.
Thomson is aiming to adopt a hybrid approach, combining advanced AI and digital banking services with dedicated relationship management.
The serial entrepreneur has set his sights on an initial £100 million raise to get the bank off the ground, climbing to £500 million over the next five years.
Investment will be sought exclusively from family offices and high-net-worth individuals, who will also form the bank’s client base. Investors will collectively own the bank, entitling them to dividends and a pledge that the bank will not be listed or sold.
The venture is still awaiting regulatory approval and is in discussions with authorities in Jersey, Singapore, and the United Arab Emirates over licencing possibilities.