“Investment in our risk infrastructure is a really important part of the strategy, to ultimately make life easier for our customers and colleagues, and help us deliver on our ambition to become the UK’s best community bank.”. • This article was amended on 24 October 2019 because Metro Bank’s pre-tax loss of £900,000 was for the second quarter of 2019, not last year’s third-quarter results as … Metro Bank did not provide comparative figures for 2018, but said it swung to an underlying loss of £2.2m compared to a £15.1m profit last year. Lees joins Metro Bank from the Co-operative Bank, where he also held the role of chief risk officer. Alexander Campbell 23 Aug 2012; Tweet . Welcome to Finextra. Commenting on the appointment, Dan Frumkin, Metro Bank CEO says: 'Richard's deep experience in retail financial services will be invaluable as we deliver on our revised strategy set out in February. fintechfutures.com/2020/10/aussie…, Sibos 2020: @BankingCircle launches POBO and COBO payments transparency solutions PASA says it’s willing to help banks make the transition. © 2020 Guardian News & Media Limited or its affiliated companies. The deal also sees NAB invest in the London-based fintech. Any deposits you hold above the limit are unlikely to be covered. Sky News has learnt that Grahame McGirr, who has worked at Northern Rock, Barclays and the Co-operative Bank, left the company last week just days before he was officially due to become its interim chief risk officer. Richard joins from the Co-operative Bank where he also held the position of Chief Risk Officer. Lees will report to Metro Bank CEO Daniel Frumkin. Metro Bank's shares have crashed by nearly 85% during the last 12 months, meaning it is now worth little more than £280m - significantly less than the new equity it raised in 2019. Mr McGirr, who helped the Co-operative Bank's recovery from the brink of collapse in 2013, did not comment when contacted by Sky News. Sponsored by Jumio, Sibos 2020: PBOC’s dep. fintechfutures.com/2020/10/bankin…, . Available for everyone, funded by readers, CEO creates debt-handling teams to deal with defaults linked to Covid-19 crisis, Suspension leaves London firm unable to pay bills and sparks concerns of anti-Iran bias, Group of 17 claimants expected to seek at least £1.5m in damages over account suspensions, Grahame McGirr told to leave just days before his formal takeover of role. Any deposits you hold above the limit are unlikely to be covered. Metro Bank PLC 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. Metro Bank Plc appoints new Chief Risk Officer. The co-founder courted unwanted scrutiny over commercial arrangements between Metro Bank and his wife, which prompted them to be unwound. I’m really looking forward to joining the team.". A Metro Bank spokesman said, however, that he was "asked to leave" on 24 February after working there for just a fortnight. Alternatively, post a comment by completing the form below: Your email address will not be published. The bank was also hit by £235m worth of deposit outflows from large business customers last month after it spooked markets by postponing a crucial bond sale. Company number: 6419578. Andrew Shiels, who joined the bank in February as Interim CRO, will continue to support the bank over the coming months until Richard joins and to ensure a smooth transition. Richard will join the bank in early 2021, and will report to the CEO, Daniel Frumkin. Metro Bank - 72-76 High Street, Bromley You May Also Like . Nearest Metro Bank Stores. 0.03 miles. The precise circumstances surrounding Mr McGirr's two-week stint at Metro Bank were unclear on Wednesday. 5.08 miles. All rights reserved. Facebook . @jpmorgan CEO Jamie Dimon says at #sibos2020 banks should avoid outsourcing their "heart, soul and spinal cord" His departure has prompted Metro Bank to ask Ms Gillan to remain in place until the end of March while a new interim risk chief is recruited. Hill will continue receiving his full chairman’s pay over the next two months, despite his scaled-down role, including a £10,000 monthly travel allowance. Metro Bank has today (10.07.20) announced that Richard Lees will join the Metro Bank Executive Committee (ExCo) as Chief Risk Officer, subject to regulatory approval. For further information visit www.fscs.org.uk. Registered in England and Wales. This content is provided by an external author without editing by Finextra. Investment in our risk infrastructure is a really important part of the strategy, to ultimately make life easier for our customers and colleagues, and help us deliver on our ambition to become the UK's best community bank. • This article was amended on 24 October 2019 because Metro Bank’s pre-tax loss of £900,000 was for the second quarter of 2019, not last year’s third-quarter results as … Interim Chief Risk Officer and member of the Bank's Executive Committee. For Finextra's free daily newsletter, breaking news and flashes and weekly job board. It has been a turbulent period for the bank, which is still awaiting the outcome of an investigation by City regulators after it classified £900m of loans as less risky than they actually were. fintechfutures.com/2020/10/temeno…. However, by the start of this month the plan had changed and it said he would step down from the board entirely by the end of the year. SAP to deploy Morgan Money on its client-facing delivery platform. A sector ready for change Richard will be a great addition to our Executive team and I’m looking forward to working with him.”, Richard Lees added: “Metro Bank has proven itself as a challenger bank committed to bringing something different to banking and really delivering for its customers and communities. Andrew Shiels, who joined the bank in February as Interim CRO, will continue to support the bank over the coming months until Richard joins and to ensure a smooth transition. ING’s Annerie Vreugdenhil is set to head up ING Neo come January 2021. Are authorised by the Financial Conduct Authority and regulated by the PRA and Financial Conduct Authority and Regulation. Death of the Bank had processed 3.1… twitter.com/i/web/status/1…, and president, Metro Bank CEO Daniel.... With him lender RateSetter, a member of the board, will in... The next time i comment the next time i comment of changes made to CEO! 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