REG-Metro Bank Holdings PLC Appointment of Chief Financial Officer

Metro Bank HoldingsAnnouncement

29/02/2024 10:00

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   Metro Bank Holdings PLC (MTRO)
   Appointment of Chief Financial Officer

   29-Feb-2024 / 10:00 GMT/BST

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                                       Metro Bank Holdings plc (LSE: MTRO LN)

                                                             29 February 2024

    

    

   Metro Bank Holdings plc

    

   Legal Entity Identifier: 984500CDDEAD6C2EDQ64

                                        

                                        

                     Appointment of Chief Financial Officer

                                        

   Metro Bank announces  that Marc  Page has been  appointed to  the role  of
   Chief Financial Officer (CFO). Marc will join Metro Bank and the Board  on
   2 September 2024, subject to regulatory approval.

    

   Marc has more  than 20 years’  experience in financial  services roles  in
   Barclays, HBOS and Lloyds Banking Group.  He joins from Barclays where  he
   has held a number of senior positions  since joining in 2017. He was  most
   recently CFO of Kensington Mortgages following its acquisition by Barclays
   in 2023; and non-executive Director of Clydesdale Financial Services, also
   part of Barclays, having previously been its CFO.

    

   Commenting on the appointment, Daniel Frumkin, CEO said:

    

   “Marc brings deep  financial expertise  and understanding  of the  banking
   sector, including  a  wealth of  knowledge  and experience  across  retail
   banking,  distribution  and  product  management.  Marc’s  experience  and
   leadership skills will help drive our strategy and growth ambitions to  be
   the number  one  community  bank putting  our  customers  and  communities
   centre-stage.”

    

   Marc Page said:

    

   “I am  looking forward  to  joining Metro  Bank. Having  strengthened  the
   foundations for future sustainable growth, the bank is well-placed to grow
   its assets significantly as  it focuses on  SMEs, corporate customers  and
   local businesses with its special brand of relationship banking.” 

    

   Cristina Alba  Ochoa will  continue to  act as  interim CFO  until  Marc’s
   appointment becomes  effective and  will  continue to  work with  Marc  to
   facilitate an orderly transition.

    

   There are  no  other  matters  requiring  disclosure  under  Listing  Rule
   9.6.13R.

    

   ENDS

    

   Enquiries

   For further information on this announcement, please contact:

    

   Metro Bank PLC Investor Relations

   IR@metrobank.plc.uk

    

   Metro Bank PLC Media Relations

   Mona Patel

   +44 (0) 7815506845

   pressoffice@metrobank.plc.uk

    

   Teneo

   Charles Armitstead, Haya Herbert-Burns

   +44 (0)7703 330269 +44 (0)7342 031051

   Metrobank@teneo.com

    

   Notes:

    

    1. Marc Page’s Biography

   Marc started  his banking  career  with HBOS  (latterly becoming  part  of
   Lloyds Banking Group) in 2003 where  he held a number of senior  positions
   such as Head of Mortgage Acquisition (HBOS), Customer Management Director,
   Retail Mortgages and finally Finance  Director, Funding, Retail from  2014
   to 2017.  In 2017, Marc moved to Barclays where he took on the position of
   UK Controller and  then held  the roles of  Head of  Group Impairment  and
   Managing Director, Customer & Product  Financials for Barclays in the  UK.
   In 2023, following  the acquisition of  Kensington Mortgages by  Barclays,
   Marc was appointed as Managing Director, CFO of Kensington Mortgages.

    

   Marc has a BSc in Management Studies from the University of Manchester and
   an MBA  from  the  University  of London.  He  qualified  as  a  Chartered
   Institute of Management Accountant in 2004.

    

    2. Remuneration Arrangements

   The Company’s  People and  Remuneration  Committee (the  “Committee”)  has
   agreed the following  remuneration arrangements for  Marc Page, which  are
   consistent with the current Directors' Remuneration Policy (the “Policy”).
   Marc Page will receive  a salary of £500,000.   He will receive a  pension
   contribution of 8% of salary, in  line with arrangements for the  majority
   of the bank’s colleagues as well as other standard core benefits.

    

   Marc Page will be eligible for discretionary variable remuneration.  Under
   the current Policy this  is an annual bonus  target opportunity of 50%  of
   salary and the  potential to be  awarded 100% of  salary under the  Bank's
   Long Term  Incentive Plan  (“LTIP”).  Shares  awarded under  the LTIP  are
   subject to performance conditions and vest over three to seven years.  Any
   annual bonus for performance in 2024 will be prorated for time served  and
   the first long-term incentive plan (LTIP)  award will be granted in  early
   2025.

    

   Marc Page will be required to accumulate a shareholding equivalent of 200%
   of salary over five years.

    

   Further details will  be disclosed in  the Directors’ Remuneration  Report
   within the Company’s Annual Report and Accounts as appropriate.

    

   About Metro Bank

   Metro Bank services 2.8  million customer accounts  and is celebrated  for
   its exceptional customer experience. It  remains one of the highest  rated
   high street banks for overall service quality for personal customers,  the
   best bank for service  in-store for business customers  and joint top  for
   service in-store for  personal customers, in  the Competition and  Markets
   Authority’s Service Quality Survey in February 2024.

   Metro Bank has also been  awarded “2023 Best Lender of  the Year – UK”  in
   the M&A Today, Global Awards, “Best Mortgage Provider of the Year” in 2022
   MoneyAge Mortgage Awards,  “Best Business  Credit Card”  in 2022  Moneynet
   Personal Finance Awards, “Best Business Credit Card 2022”, Forbes Advisor,
   “Best Current Account for Overseas Use” by Forbes 2022 and accredited as a
   top ten Most Loved Workplace 2023.

   The community bank offers retail, business, commercial and private banking
   services, and  prides  itself  on  giving customers  the  choice  to  bank
   however, whenever and wherever they  choose, and supporting the  customers
   and communities it serves. Whether that’s through its network of 76 stores
   open seven days a week, 362 days a year; on the phone through its UK-based
   contact centres; or online through  its internet banking or  award-winning
   mobile app, the bank offers customers real choice.

   Metro Bank  Holdings PLC  (registered in  England and  Wales with  company
   number 14387040, registered office: One Southampton Row, London, WC1B 5HA)
   is the listed entity and holding company of Metro Bank PLC.

   Metro Bank  PLC  (registered in  England  and Wales  with  company  number
   6419578, registered  office: One  Southampton Row,  London, WC1B  5HA)  is
   authorised by the  Prudential Regulation  Authority and  regulated by  the
   Financial  Conduct   Authority   and  Prudential   Regulation   Authority.
   ‘Metrobank’ is  a  registered  trademark  of  Metro  Bank  PLC.   Eligible
   deposits are protected by the Financial Services Compensation Scheme.  For
   further  information  about   the  Scheme  refer   to  the  FSCS   website
   www.fscs.org.uk. All  Metro  Bank  products  are  subject  to  status  and
   approval.

   Metro Bank is an independent UK bank – it is not affiliated with any other
   bank or organisation  (including the  METRO newspaper  or its  publishers)
   anywhere in the world. Please refer to Metro Bank using the full name.

    

    

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:           GB00BMX3W479
   Category Code:  BOA
   TIDM:           MTRO
   LEI Code:       984500CDDEAD6C2EDQ64
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   306923
   EQS News ID:    1848543


    
   End of Announcement EQS News Service

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