- Challenger bank Metro Bank said that chairman and founder Vernon Hill would stand down by the end of the calendar year.

The bank had recently announced that Hill was of the view that the bank had reached a size where it was appropriate to appoint an independent chair.

'The board's search for a new chairperson is progressing well,' Metro Bank said.

'However, if this is not completed by the end of the year, the bank will appoint an existing independent non-executive director as interim chairperson.'

At 10:01am: [LON:MTRO] Metro Bank PLC share price was -1.85p at 178.15p

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