Appointment of Chief Financial OfficerSource: RNS
15 July 2022
Legal Entity Identifier: 213800X5WU57YL9GPK89
Metro Bank plc
Appointment of Chief Financial Officer
Metro Bank today announces that James Hopkinson has been appointed as Chief Financial Officer and Executive Director, effective from 5th September 2022, subject to regulatory approval.
James joins from ClearBank where he has been CFO since 2019 and Board member since 2020. He brings significant experience in global and UK retail banking, growth organisations, UK regulation and leading finance functions. Previously, he spent almost 20 years at Standard Chartered, where he held a variety of roles including CFO Regions & Clients, CFO Global Retail Banking and Global Head of Investor Relations. James is a Chartered Accountant and began his career at PricewaterhouseCoopers.
Commenting on the appointment, Daniel Frumkin, CEO said:
"James brings a wealth of experience in retail banking with a proven track record of growing businesses and managing finance teams. He shares our vision for Metro Bank to become the UK's best community bank and he will be a valuable addition to the Board and Executive Committee."
James Hopkinson said: "Metro Bank is the stand-out consumer champion in retail banking. The progress made on the turnaround plan to date has been impressive and I look forward to helping take the Bank into its next phase of growth and towards sustainable profitability."
For further information on this announcement, please contact:
Metro Bank PLC Investor Relations
+44 (0) 20 3402 8900
Metro Bank PLC Media Relations
+44 (0) 7815506845
+44 (0)7703 330269
1. James Hopkinson's Biography
James started his career at PricewaterhouseCoopers where he specialised in tax accounting and consultancy and qualified as a Chartered Accountant with the ICAEW. He worked for Standard Chartered Bank from 2001 to 2019 in a variety of roles ranging from heading up corporate and institutional businesses, to Group Head of Investor Relations and most recently performing the role as Chief Financial Officer for the Group's countries, regions and business segments, James was also the CFO for the Global Retail Banking business and the co-leader of the global finance function. In 2019, James joined ClearBank as CFO and Executive Director.
2. Remuneration Arrangements
James' remuneration arrangements have been set in accordance with the Bank's Remuneration Policy approved by shareholders at the 2021 AGM on 18 May 2021.
The Board has approved a salary of £500,000 per annum. James will also be eligible for variable remuneration, with a target opportunity of 50% of salary under the annual bonus, and the potential to be awarded 100% of salary under the Bank's Long Term Incentive Plan. Shares awarded under the Long Term Incentive Plan are subject to performance conditions. Metro Bank will make an annual contribution to his pension of 8% of salary, in line with arrangements for the majority of its colleagues.
James will be required to accumulate a shareholding equivalent of 200% of salary over five years.
About Metro Bank
Metro Bank services 2.5 million customer accounts and is celebrated for its exceptional customer experience. It is the highest rated high street bank for overall service quality and best bank for service in-store for personal and business customers, in the Competition and Market Authority's Service Quality Survey in February 2022. It was recognised as 'Bank of the Year' at the 2020 MoneyAge Awards and 'Banking Brand of The Year' at the Moneynet Personal Finance Awards 2021, received Gold Award in the Armed Forces Covenant's Employer Recognition Scheme 2021 and won Best Open Banking Partnership - Commercial at the inaugural Open Banking Expo Awards 2021.
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 24/7 contact centres; or online through its internet banking or award-winning mobile app: the bank offers customers real choice.
Metro Bank PLC. Registered in England and Wales. Company number: 6419578. Registered office: One Southampton Row, London, WC1B 5HA. 'Metrobank' is the registered trademark of Metro Bank PLC.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Most relevant 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 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. Please refer to Metro Bank using the full name.