Metro Bank Regulatory News (MTRO)

24 July 2019

Legal Entity Identifier: 213800X5WU57YL9GPK89

Metro Bank to commence search for independent Chair

Metro Bank ('the Bank') today announces that it will start the process of recruiting an independent, Non-Executive Chair. Mr Hill believes that the Bank has now reached a size and scale where it is appropriate to appoint an independent Chair. This transition will also ensure that the Board continues to evolve in-line with best practice corporate governance guide lines.

Mr Hill will continue as Chairman until a successor is appointed, after which he will remain as a Non-Executive Director, Founder and President.

The Board continues its proactive search for additional independent NED candidates and Metro Bank expects to make further appointments this year.

Commenting, Sir Michael Snyder, Senior Independent Director, said:

"Vernon is the inspiration behind Metro Bank, the first high street bank to open in the UK in over 100 years. It is thanks to his vision and leadership that we have grown to 67 stores around the country, serving over 1.8m customer accounts and have recently been ranked as the number one bank for overall quality of service for personal banking.

"The Board shares Vernon's view that Metro Bank has now reached a point where an independent Chair is appropriate to oversee the next stage of our journey and that process will start immediately. I am delighted that Vernon will continue to contribute to the future success of Metro Bank as a member of the Board and as Founder and President, enabling us to draw on his passion, knowledge and relentless drive for customer service which has helped the bank to shake up British banking over the past nine years."

ENDS

The information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 and was authorised for release by David Arden, Chief Financial Officer.

Enquiries

For more information on this announcement please contact:

Metro Bank PLC 

Investor Relations

Jo Roberts

+44 (0)20 3402 8900

IR@metrobank.plc.uk

Media Relations

Charlotte Sjoberg / Tina Coates

+44 (0)7970 633255 / +44 (0)7811 246016

pressoffice@metrobank.plc.uk 

Teneo

Charles Armitstead

+44 (0)207 420 3187 / +44 (0)7703 330269

Metrobank@teneo.com

About Metro Bank

Metro Bank is the revolution in British banking. It is celebrated for its exceptional customer experience and achieved the top spot in the Competition and Market Authority's Service Quality Survey among personal current account holders for its overall service and came second among business current account holders in February 2019. It was also awarded 'Best All Round Personal Finance Provider' at the Moneynet Personal Finance Awards 2019. It is also recognised by Glassdoor in its 'Best Place to Work UK 2019' top 50 list.

Offering retail, business, commercial and private banking services, it prides itself on using technology to give customers the choice to bank however, whenever and wherever they choose. Whether that's through its growing network of stores open seven days a week, from early in the morning to late at night, 362 days a year; on the phone through its UK-based 24/7 contact centres manned by people not machines; or online through its internet banking or award-winning mobile app: the bank offers customers real choice.

The bank employs over 3,900 colleagues and is headquartered in Holborn, London. 

Metro Bank PLC. Registered in England and Wales. Company number: 6419578. Registered office: One Southampton Row, London, WC1B 5HA. 'Metrobank' is the registered trade mark of Metro Bank PLC.

It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Most relevant deposits are protected by the Financial Services Compensation Scheme. For further information about the Scheme refer to the FSCS website www.fscs.org.uk.