Member Info for bigsmoke

https://ibsintelligence.com/ibs-journal/ibs-news/metro-bank-appoints-richard-lees-as-its-chief-risk-officer/

Metro Bank announced that it has appointed Richard Lees as the Chief Risk Officer, thus joining the Bank’s Executive Committee. The new CRO will join the Bank in early 2021 and will be reporting to Daniel Frumkin, the CEO. The Interim CRO, Andrew Shiels will continue in his role until 2021, for facilitating a smooth transition for the new executive.

Dan Frumkin, Metro Bank CEO, said, “Richard’s deep experience in retail financial services will be invaluable as we deliver on our revised strategy set out in February. Investment in our risk infrastructure is a really important part of the strategy, to ultimately make life easier for our customers and colleagues, and help us deliver on our ambition to become the UK’s best community bank. Richard will be a great addition to our Executive Team, and I’m looking forward to working with him.”

Previously, Richard held the position of the Chief Risk Officer at the Co-operative Bank. He holds more than two decades of experience in the financial services sector with positions at Lloyds Banking Group, HBOS and MBNA.

Metro Bank also announced the appointment of Martin Boyle as its Chief Transformation Officer and Carol Frost as the Chief People Officer.

Richard Lees added, “Metro Bank has proven itself as a challenger bank committed to bringing something different to banking and really delivering for its customers and communities. I’m really looking forward to joining the team.”

filtered now.

Maybe Metro’s gain

https://www.bbc.co.uk/news/business-53361580

“Smile Bank customers have been unable to access their online banking accounts for five days in a row.”

nice little earner (12%).

new chairman.

last broker TP - 130p (GS) to 140p (RBC)

what is going on here?

about £100m from share issue. Another £80m ish from sale and lease back - about all paying down debt.

massive (and growing) online reach.

very good established UK brand (with licence revenue) and quality product offering (namely the babaywear).

m/c £127m.

can see this getting scooped up.

jimd - i sincerely hope they ARE getting paid, stomach turns if not and some personal need!.
anyway, have green-boxed the proven (imo) socks for now. too much good stuff going on .

thanks Olgathefox, your posts are very much valued.

new even made it to Scotland ...

"Richard Lees will join the company early next year, reporting to chief executive Daniel Frumkin. A veteran of the Co-operative Bank, Lloyds and HBOS, Mr Lees said: "Metro Bank has proven itself as a challenger bank committed to bringing something different to banking and really delivering for its customers and communities. "I'm really looking forward to joining the team." "

https://www.heraldscotland.com/business_hq/18575592.argos-delivery-company-move-scottish-base-england-38m-support-package-new-firms-bank-hires-hbos-veteran/

https://www.telegraph.co.uk/business/2020/07/10/markets-live-latest-coronavirus-news-pound-euro-ftse-100/

Metro Bank has appointed a chief risk officer as it tries to recover its reputation following a scandal over how it classified loans to companies and landlords. Richard Lees will join the bank early next year, reporting to chief executive Daniel Frumkin. A veteran of the Co-operative Bank, Lloyds and HBOS, Mr Lees said: “Metro Bank has proven itself as a challenger bank committed to bringing something different to banking and really delivering for its customers and communities. I’m really looking forward to joining the team.”

Read more: Metro Bank hires building society ‘bad boy’ as chairman
https://www.telegraph.co.uk/business/2020/07/08/metro-bank-hires-building-society-bad-boy-chairman/

"fun" (mind you, that's a lawyer talking)

"Back in 2010, Metro Bank made a big splash by opening the first new high-street bank in the UK for more than 100 years. In the context of a retail banking market which has faced various reputational and conduct issues, Metro has prioritised the customer. Their "stores" (branches) are open seven days a week, "fans" (customers) can set up accounts on the spot and receive credit and debit cards within half an hour. The physical premises are lively, dog-friendly and, dare we say it, fun."

https://www.lexology.com/library/detail.aspx?g=ddd063b9-8bd1-4885-af4b-e6c752b0b7e8
Interesting this article was subscription only, originally published by Thomson Reuters Regulatory Intelligence - but now, suddenly, is opened to public domain..

dealing with the debbie downers. they report you when you catch them out. Fact.

Resilient stocks with at least 12% yield welcome in my portfolio

Market always marks down the DIV outflow. Usually, a good time to buy imho.

Sure did. Up 1.5% . If it holds or adds, then TED should move, or new theory requires

Currently 1.5% up..

Looks like positioning.

Yet, lots of noteable drop ins :

Metro at inflection point.

Metro was 2000p.

Etc