Metro Bank (UK)

For similarly named institutions, see Metrobank.

Metro Bank plc

Type	Public limited company
Industry	Banking Financial services
Founded	United Kingdom (2010 (2010))
Founder(s)	Anthony Thomson Vernon Hill
Headquarters	London, United Kingdom
Key people	Anthony Thomson (Chairman) Vernon Hill (Vice-chairman)

Metro Bank plc is a retail bank operating in the United Kingdom as from 2010. It was founded by Anthony Thomson (chairman) and Vernon Hill (vice-chairman). The bank aims be customer-oriented.^[1]

History

Metro Bank was granted a full-service banking licence on 5 March 2010 by the Financial Services Authority (FSA). It was the first high-street bank to be granted such a licence for over 150 years.^[2] Its first branch opened in Holborn on 29 July 2010 and its second in Earl's Court (Cromwell Road) on 3 September 2010. Subsequently branches have opened in Fulham and Borehamwood, Bromley, Croydon and on Kensington High Street. A branch in Uxbridge will be opening in late October 2011.^[1] In July 2010, Metro Bank entered into an agreement with MasterCard to provide MasterCard payment cards to its customers, including issuing Debit MasterCard with its current accounts.^[3]

Key personnel

Anthony Thomson, the chairman, had had 27 years of experience in financial services.^[1] He chairs the UK Financial Services Forum, in which senior executives discuss financial services marketing.^[4]

Vernon Hill, the vice-chairman, founded a bank called Commerce Bancorp (commonly known as Commerce Bank) in 1973. Starting from one office in Philadelphia, USA, it grew to have assets of $50 billion and 500 offices throughout the eastern coast of the USA. Commerce Bank has received many consumer awards for best retail bank.^[1] It was bought by Toronto-Dominion Bank in 2007.

References

1. ^ ^{a b c d} "Metro Bank website, company history page". https://www.metrobankonline.co.uk/about-us/company-history/. Retrieved 07-30-2010. 
2. ^ "Computer says no". July 22, 2010. https://www.economist.com/node/16646044?story_id=16646044. Retrieved 08-10-2010. 
3. ^ "The Press Association: New bank issues cards in 15 minutes". July 23, 2010. http://www.google.com/hostednews/ukpress/article/ALeqM5iJZuTZhMT8vzM6zWcCkYn_CAve1g. Retrieved 07-30-2010. 
4. ^ "The Financial Services Forum (UK". http://www.thefsforum.co.uk/. Retrieved 07-30-2010. 

External links

• "Official website"
• "BBC website > News > Business, Metro Bank opens doors in UK, 29 July 2010"
• "BBC website > News > Business, Metro Bank: Sublime or ridiculous?, 29 July 2010"