Metro Bank Holdings PLC - London-based retail bank operating from 76 'stores' - Jaime Gilinski Bacal will join the board as a non-executive director, starting "once the necessary formalities are completed". Bacal holds a 52.9% stake in Metro Bank via Spaldy Investments Ltd. Bacal has the right to appoint up to three directors to the Metro Bank board as part of a relationship agreement put in place back in October, when Spaldy contributed GBP102 million to a GBP325 million capital raise by Metro Bank.
Chair Robert Sharpe says Bacal's appointment "underscores the commitment he has long shown to the bank as a supportive, long-term shareholder". Bacal comments: "There are many opportunities for Metro Bank to grow, and I am looking forward to playing a part in the evolution of the bank as we build on the solid foundational work undertaken to date."
Bacal invests in financial firms and real estate, primarily Latin America and the US. He also has controlling interests in Banco GNB Sudameris, Banco GNB Peru, Banco GNB Paraguay and Lulo Bank.
Current stock price: 37.19 pence, up 2.7% in London on Wednesday
12-month change: down 71%
By Tom Waite, Alliance News editor
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Metro Bank (MTRO)