Metro Bank Share Discussion Threads

[sentimentrules] 04/3/2020 20:17

Metro Bank ousts risk officer a fortnight after he joined ailing lender
Metro Bank is facing fresh problems after ousting its chief risk officer little more than a fortnight after he joined.

Grahame McGirr, who has 20 years of banking experience including at Allied Irish and the Co-op , joined Metro in early February to ensure a smooth handover from Aileen Gillan, who is stepping down.

But by 24 of February, just days before his formal takeover, McGirr was gone.

A spokeswoman for the lender said McGirr was asked to leave because he was “not a good fit”. She did not provide further details, saying only that he had “left the business”.

Metro’s shares closed down 3% at 159p on Wednesday. Two years ago they were changing hands at more than £40.

The bank has asked Gillan to stay on for a month and is scrambling to appoint a replacement by 31 March.

The role of a chief risk officer is to keep tabs on how much risk the bank takes on through loans or accounts that could harm its operations, or put it in breach of regulations.

McGirr’s departure, first reported by Sky News, is a further blow to the bank, which is still struggling to find a permanent chairman after a clearout of its top ranks.

Vernon Hill and Craig Donaldson resigned as chairman and chief executive respectively in the final weeks of 2019 after a turbulent year for the bank, triggered by an accounting error involving the misclassification of £900m of loans as less risky than they were.

An investigation was launched by the Financial Conduct Authority and Prudential Regulation Authority. The inquiry is expected to last another year.

The lender’s new chief executive, Daniel Frumkin, said last week that he expected more staff to leave in the coming months. The warning came as Metro reported it was significantly scaling back expansion plans as part of a strategy to rein in costs after a £130m

[smartie6] 04/3/2020 20:17

Ammu12, don’t worry about it, it’ll be down another 900 tomorrow when they become rational. It may be something to do with the number of burgers consumed? I don’t honestly know. I do know that you can ask 10 on Wall Street what they think and you’ll not get a reasonable response. 5 today advised that last week was a blip and confidence has returned given stimulus packages available, the other 5 are expecting end of days.

[smartie6] 04/3/2020 20:13

Ask PPE she had her deeeeeeek taken off many years ago.

[paul planet earth] 04/3/2020 20:12

SR..for you that's 'Sesame Street' and Big Bird your other half!

[sentimentrules] 04/3/2020 20:10

yet the dollar falls - gold steady etc etc

maybe stimulus isnt fooling the street?

[sentimentrules] 04/3/2020 20:10

yet the dollar falls - gold steady etc etc

maybe stimulus isnt fooling the street?

[sentimentrules] 04/3/2020 20:00

Ammu what question?

[sentimentrules] 04/3/2020 19:58

Well it wont take long - the gerbils only need about 3 posts from any guru and everything is ok again, until 60p

[smartie6] 04/3/2020 19:56

I don’t mind. That said how does the saying go you can’t teach pxrk.

[sentimentrules] 04/3/2020 19:54

Matlot, i think is reading your posts smarties. And trying to find a way to spin it without plagiarism

Why are we educating that tool?

[ammu12] 04/3/2020 19:52

I see completely ignored my question lol

[smartie6] 04/3/2020 19:49

Would love to see Matlot. That said he truly has thrown his toys out of the pram.

[smartie6] 04/3/2020 19:48

SR, it must have took him all day. He visited this morning and we’ve only just seen him now. You may have found a new stalker.

[sentimentrules] 04/3/2020 19:47

is matlot gonna come here and defend his destroyed imaginary honour?

be great fun

[smartie6] 04/3/2020 19:43

Or is it 6p, 15p or 23p?

[smartie6] 04/3/2020 19:42

Nano, nano. Lol.

[sentimentrules] 04/3/2020 19:41

Ork stick the stats up yar orson holy -

Interesting though. You have checked out my whole history no doubt - could not find a stock call to knock and only had post count left

hahaha

[smartie6] 04/3/2020 19:33

Ork are you from the planet ork and do you know orson?
Are you also friends with Mork or as we know her PPE?