Metro Bank Chairman To Step Down After Accounting Blunder

Law360, London (October 2, 2019, 11:56 AM BST) -- Struggling Metro Bank announced Wednesday that its chairman and founder is stepping down, less than a month after the lender admitted it faces significant expenses following a £900 million ($1.1 billion) accounting error at the beginning of the year.

Metro Bank PLC said Vernon Hill — who started the bank in 2010 — will leave by Dec. 31. The lender said it has yet to find a successor to replace Hill and that if it does not succeed by the end of the year it will appoint an existing independent non-executive director as an interim move.

"Vernon is the inspiration behind...

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