Metro Bank Share Discussion Threads

[kreature] 29/2/2024 15:46

Um, CFO ‘will join Metro Bank and the Board on 2 September 2024, subject to regulatory approval.’

2nd Sept ? Will Metro still be around then ? Who will sort out the accounts next month ?

[thanatos abysss] 29/2/2024 15:09

MTRO PINGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGG

[fast mover] 29/2/2024 15:04

Galinski has appointed a highly experienced CFO to take Metro Bank to a whole new level.He is clearly assembling the right team to achieve his goal and objectives.Hopefully, other institutions will see there is a definitive plan to accelerate its growth plans and take a stake.

[institutional investments] 29/2/2024 15:00

Wow, a plc had to replace a sacked CFO

Fkn game changer

[imjustdandy] 29/2/2024 14:59

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.”

[imjustdandy] 29/2/2024 14:59

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.”

[imjustdandy] 29/2/2024 14:22

Game changer

[crazi] 29/2/2024 13:58

The point is not about appointing a CFO. The point is they got someone more prominent and experienced than expected.

The new Board is looking much stronger than before...

[vlad the impaler] 29/2/2024 13:55

I just pity the poor fkr coming in here for results

[vlad the impaler] 29/2/2024 13:55

You all a t as if appointing a cfo wasn't a regulatory requirement and as such 100% expected

[crazi] 29/2/2024 13:53

He's experienced so can only help the turnaround and market confidence as well as boost confidence with the authorities. Should help push along the mortgage approvals having a prominent CFO...

[the imperialist] 29/2/2024 13:06

Not months, the time projections showing 57p next month.

[imjustdandy] 29/2/2024 12:52

Great appointment - boom time coming

[imjustdandy] 29/2/2024 12:51

Game changing appointment - can see this back over a pound in next few months

[institutional investments] 29/2/2024 12:50

No surprise to see a CFO in pre result

Some poor sap unfamiliar with it all, had to be given responsibility

[blackhorse23] 29/2/2024 12:36

What will be next placing price ??

[thanatos abysss] 29/2/2024 12:35

BT PINGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGG

[the imperialist] 29/2/2024 12:25

Something is going to take us out of this accumulation stage, so results should do that.

[the imperialist] 29/2/2024 12:15

This is the turning point.

[kreature] 29/2/2024 12:09

Could be a turing point with new CFO ? Maybe depends on what is unearthed ?

[kreature] 29/2/2024 12:05

Good timing. I guess that answers my question from yesterday. Hope he decides to hang around for a while ? Depends I guess ?

[crazi] 29/2/2024 10:39

THURSDAY 29 FEBRUARY 2024 10:27 AM
Metro Bank brings in Barclays executive as new CFO amid major restructuring

Metro Bank has appointed Barclays executive Marc Page as its new chief financial officer as the lender undergoes a major restructuring designed to shore up its balance sheet.

Page is set to take over from interim CFO Cristina Alba Ochoa on 2 September, who herself succeeded James Hopkinson after he stepped down last month.

Page has been a managing director at Barclays overseeing customer and product financials since 2021.

He originally joined the bank in 2017, becoming the CFO of Kensington Mortgages after it was acquired by Barclays last year. Page also holds a non-executive director post at Barclays-owned Clydesdale Financial Services, previously being its CFO.

A banker for two decades, Page has previously held roles at HBOS and Lloyds Banking Group.

Page’s appointment comes after Metro Bank was rescued by a £925m refinancing package first announced last October and overwhelmingly approved by shareholders in November.

The rescue was led by Colombian billionaire Jaime Gilinski Bacal, who took a majority 52.88 per cent stake in the bank and last month appointed himself to the bank’s board.

Page is set to oversee a 20 per cent cut in staff and a potential reduction in opening hours at the branches Metro Bank has built its name on. He will also be tasked with boosting the bank’s share price, which is down 77 per cent over the last year.

Analysts have warned that Metro Bank’s commitment to branches, which are costly and run against the prevailing shift to online banking, could hold back the lender’s transformation.

Page said on Thursday: “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.”

Daniel Frumkin, chief executive of Metro Bank, added: “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.”

[paul planet earth1] 29/2/2024 09:04

Results 14 days and counting!