Following negotiations between Mike and the bank, it has now been agreed that he will retire in March 2018 following the announcement of the 2017 full-year results.

Mike joined Metro Bank as CFO in April 2009 and, in total, has over 35 years of banking experience.

At Metro, he presided over a period which saw the challenger bank evolve from a start-up to a FTSE 250 company listed on the London Stock Exchange.

“When we started Metro Bank, few people believed we could become the first new high street bank in the UK in over 100 years,” said Mike.

“I am proud of what we have built – a profitable, listed bank with over one million customers, assets of c£15bn and a market capitalisation of over £3bn.

“What I and the rest of the management team are most proud of, however, is the jobs and career opportunities we have created for our dedicated and talented colleagues at the bank.

“We are the revolution in UK banking.

“My final executive role has been my most challenging, but also the most fun.”

Mike will be replaced by David Arden – subject to regulatory approval – who is currently CFO at Sainsbury's Bank.

David has held his position at Sainsbury's Bank since March 2012 and is also currently interim MD of Argos Financial Services.

David joined Sainsbury's Bank from Shop Direct Financial Services, where he was CFO.

He has 27 years of banking experience and has served in a number of senior positions, including managing director of RBS/NatWest Credit Cards and finance and risk director for Tesco Bank.

“The opportunity to be part of the Metro Bank story is incredibly compelling for me,” added David.

“Metro Bank is a high-growth retailer, known for shaking up the market.

“After a career spent with a number of sector disruptors, and with a personal passion for putting the customer at the heart of the business, Metro Bank is the obvious next step.

“I'm incredibly excited to be part of the revolution and can't wait to get started.”