Vernon Hill, founder and chairman at Metro Bank, has decided to step down from his role and the board by 31st December 2019.
Vernon believed that due to the size and scale of the bank, it was now appropriate to appoint an independent chairperson.
The board’s search to fill this position is underway.
Metro Bank will aim to appoint an existing independent non-executive director as interim chairperson if this process isn’t completed by the end of the year.
"Vernon is the inspiration behind Metro Bank,” said Michael Snyder, senior independent director at Metro Bank.
“It is thanks to his vision and leadership that we have grown to 70 stores around the country, serving over 1.8 million customer accounts.
“The board shares Vernon's view that Metro Bank has now reached a point where an independent chairperson is appropriate to oversee the next stage of our journey."
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