Metro Bank chairman Vernon Hill insists ‘best is yet to come’ after quitting with immediate effect
Metro Bank chairman Vernon Hill is stepping down today with immediate effect, resigning from the embattled lender after a torrid 12 months.
The colour and controversial chairman has insisted that “the best is yet to come” for the troubled bank, which is set to reveal its third-quarter results after the bell today.
Read more: Bond sale gives Metro Bank’s shares a rare boost
The co-founder and dog-mad American is leaving after a tumultuous period for Metro Bank, which has suffered a sharp drop in its share price following the discovery of a major accountancy error at the start of this year.
Hill had previously revealed plans to leave officially by the end of this year.
Read more: Inside the new Goldman Sachs London HQ
City grandee and senior independent director at Metro Bank Michael Synder has been appointed interim chairman with immediate effect, while Hill will remain a non-executive director until the end of the year.
Hill said: “I wish all of our fans – Metro Bank’s customers, colleagues and shareholders – every success for the next stage of the journey. As always, the best is yet to come.”