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Metro Bank appoints Sir Michael Snyder as Non-Executive Director

19th October 2015

Metro Bank is delighted to announce the appointment of Sir Michael Snyder to its Board of Directors.

A respected figure in the City, as Senior Partner at Kingston Smith Sir Michael grew the number of partners from seven to 64, while taking overall headcount beyond 500 and generating a turnover in excess of £43 million.  He brings expertise in scaling-up a successful business to Britain’s leading Challenger Bank.

Having sat on the Government’s Small Business Council and Small Business Investment Taskforce, Sir Michael also will also champion small and medium-sized businesses (SMEs), which account for almost half of Metro Bank’s total lending.

Sir Michael is the latest high-level appointment by Metro Bank - the UK’s first new high street bank in more than 100 years. In August, Metro Bank made two new additions to its Leadership Team as it sought to maintain the rapid growth it has experienced since arriving on the high street in 2010.
 
Sir Michael Snyder commented: “I am excited about the opportunity that this directorship offers. Metro Bank’s focus on prioritising their customers’ needs first, coupled with a well organised and strategically executed expansion bodes well for future growth and I am looking forward to playing a part in it. ”

Vernon Hill, Chairman and Founder of Metro Bank commented: “I’m delighted to welcome Sir Michael to our Board of Directors. Metro Bank will draw on his extensive experience of growing one of London’s most successful businesses, as we continue to execute our plan to revolutionise British banking.”

Metro Bank was the first new UK high street in more than a 100 years when it opened its first store in 2010 and has since grown to 37 stores based in London and the South East. The bank’s Q2 figures showed that overall lending surpassed the £2 billion mark, while total deposits grew to £3,791 million, reflecting quarterly growth of 12%. The number of customer accounts grew to 544,000 – a record quarterly increase of 10%.

Sir Michael’s appointment is subject to regulatory approval.