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.”
Metro Bank's chairman, Vernon Hill, has resigned with immediate effect after a troubled 12 months for the bank that involved a sharp drop in its share price following the discovery of a major accountancy error early this year. Senior independent director of the company Hill has been appointed interim chairman, while Hill will remain a non-executive director until the end of year – the point in time when he had initially planned to step down.