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Vernon Hill stands down from Metro Bank with immediate effect

  • 23/10/2019
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Vernon Hill stands down from Metro Bank with immediate effect
Vernon Hill, founder of Metro Bank, has stepped down from his post as chairman of the bank ahead of schedule.

Hill (pictured) had been due to leave his post at the end of year, but will instead go with immediate effect. He will however remain as a non-executive director until 31st December 2019, while he has also accepted the honorary position of emeritus chairman.

Sir Michael Snyder has been appointed as interim chairman with immediate effect, subject to regulatory approval, ahead of a permanent successor.

Snyder thanked Vernon for his service, stating he had left a “lasting legacy of creating fans through exceptional service and has revolutionised British banking”.

Hill added that for Metro Bank “the best is yet to come”.

Metro Bank is due to publish its results later today, having endured a difficult year which has included an investigation from the FCA and PRA over miscalculating its mortgage book’s risk levels.

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