Vernon Hill, chairman of Britain's troubled Metro Bank, steps down

Reuters Finance 1 month ago

LONDON (Reuters) - Vernon Hill, the chairman and founder of Britain’s troubled Metro Bank (MTRO.L) will step down from the bank’s board and his role by the end of the year, the bank said on Wednesday.

Metro Bank said if the search for a new chairman is not completed by the end of the year, it will appoint existing independent non-executive director as interim chair.

The lender has lost 89% of its share value this year following the disclosure of an accounting error and questions about the viability of its branch-heavy business model in a banking industry increasingly going digital.

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The Wall Street Journal › 1 month ago
Vernon W. Hill II, the American founder of Metro Bank, who tried to bring fast-food type convenience and glitz to the U.K. banking market, will step down as chairman of the troubled lender by the end of 2019.
Forbes › Finance › 3 weeks ago
The dog-loving American businessman Vernon Hill has stepped down as chairman of Britain's Metro Bank two months early, as the troubled challenger bank sank to a third-quarter loss of £6.7m.
One America News Network › Finance › 0 month ago
By Sinead Cruise and Lawrence White LONDON (Reuters) - Britain's troubled Metro Bank reported a loss for the third quarter, said its chairman Vernon Hill has stepped down two months early,
Evening Standard › Finance › 1 month ago
Vernon Hill, founder and chairman of Metro Bank, is departing the beleaguered lender just weeks after saying he would "probably die" in the job.
The Guardian › Finance › 1 month ago
Vernon Hill to quit group amid bank’s misclassification of £900m worth of loansMetro Bank founder Vernon Hill will quit the board by the end of the year as the bank continues to deal with the fallout of a major accounting error.The announcement came...
The Guardian › Finance › 0 month ago
Vernon Hill steps down earlier than expected as investigation into accounting error continues
Reuters › Finance › 1 month ago
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The New York Times › Finance › 0 month ago
Metro Bank swung to a loss for the third quarter as the troubled lender scrambled to save face after customers began to withdraw billions of pounds following an accounting scandal earlier this year.
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