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
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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
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The New York Times › Finance › 0 month ago
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