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:
-
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.
-
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.
