- Challenger bank Metro Bank said that chairman and founder Vernon Hill had stood down, with immediate effect.

He would stay on as a non-executive director of the lender until 31 December and had agreed to accept the honorary position of emeritus chairman.

Current director Michael Snyder had been appointed as interim Chairman until a permanent successor was appointed.

'The board thanks Vernon for his vision which inspired and created Metro Bank ten years ago,' Snyder said.

'He leaves a lasting legacy of creating fans through exceptional customer service and has revolutionised British banking.'

Story provided by