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 guidelines.
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.”