Metro Bank appoints Vernon Hill as Chairman
1st January 2013
Metro Bank PLC, the UK’s most revolutionary High Street Bank, today announces the appointment of Vernon Hill as Chairman.
As Founder and Vice Chairman, Vernon Hill has been instrumental through Metro Bank’s successful launch and the subsequent explosive growth of the UK’s most customer focused high street Bank. Metro Bank launched in July 2010, and currently has 15 stores open in London and the South East. Still under three years old, the bank has over 130,000 personal and business accounts, over £500m in deposits and over £150m in lending. Metro Bank plans to grow to 200 stores in the Greater London area by 2020.
Vernon Hill was the founder and former Chairman and President of Commerce Bank, and developed a banking philosophy focused on building a stable bank through deposit taking, and creating fans through delivering amazing customer service. By applying this philosophy he built Commerce Bank into one of the largest banks in America with 15,000 team members, 500 stores and $50 billion of assets. Commerce Bank was voted the best bank in America in 2006, 2007 and 2008 by JD Power for its absolute commitment to customers, and also produced exceptional shareholder returns. 2007’s Forbes Magazine 20/20/20 list* shows Hill as the fourth highest performing public company CEO over 20 years, with a 23% compounded shareholder return. Commerce Bank was purchased in July 2007 by TD Financial for $8.5 billion.
Hill remains Chairman of Pet Plan North America, co-Chairman of Bankstocks.com and Chairman of the Executive Committee of Saladworks. He is a graduate of the Wharton School of the University of Pennsylvania.
Craig Donaldson, Chief Executive of Metro Bank, commented on the appointment: “Vernon was the natural choice as Chairman to lead Metro Bank’s exciting growth plans. His unrivalled banking expertise, coupled with his innate understanding of how to build a business based on customer satisfaction have been an incredible support since Metro Bank’s inception. Vernon is best placed to be the Chairman of Metro Bank through its next stage of growth.”