October 2, 2019 / 6:48 AM / 13 days ago

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

LONDON, Oct 2 (Reuters) - Vernon Hill, the chairman and founder of Britain’s troubled Metro Bank 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. (Reporting By Lawrence White, editing by Sinead Cruise)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below