The ongoing fallout from an accounting error at Metro Bank will now see Founder Vernon Hill completely exit the group after previously announcing he would remain on the board.
Reports in The Guardian on Wednesday (Oct. 2) said Hill has announced he will resign from the board of director by year’s end, meaning he will fully depart from the bank. Earlier this year, he announced that he would step down as chairman and expected to remain an independent director on the board, previously stating he would “probably die” before leaving the bank entirely.
Hill will retain a 3.6 percent stake in the bank, worth about $13.5 million.
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