Metro Bank has announced that Craig Donaldson (pictured above) — the bank’s CEO since 2009 — will step down at the end of the year.
Dan Frumkin, chief transformation officer at Metro Bank, has been named interim CEO with effect from 1st January 2020, subject to regulatory approval.
The board will start the search for a new CEO and consider both internal and external candidates.
Craig will remain available to the board as an adviser until the end of 2020.
Craig said: “While this has undoubtedly been a challenging year, it has been a privilege to serve.
“I committed to work with the board until we felt that the bank was sufficiently strong for me to step away.”
Michael Snyder, chairman at Metro Bank, added: “Thanks to [Craig’s] passion and commitment, today Metro Bank serves nearly two million customer accounts…
“My priority is to appoint a permanent CEO and to appoint new NEDs to the board who will bring even more retail banking experience.”
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