Alastair ‘Ben’ Gunn to step down as Deputy Chairman of Metro Bank

Maria Nikolova

Board changes at the bank, rocked by accounting error earlier this year, continue.

Several days after Metro Bank PLC (LON:MTRO) announced that Vernon Hill is stepping down as Non-Executive Director, the bank has unveiled more changes within its top ranks. Today, the bank announces that, after 10 years on the Board, Alastair ‘Ben’ Gunn will step down as Deputy Chairman and Non-Executive Director. The change is effective December 31, 2019.

Ben Gunn

In February 2019, the bank announced that from April 1, 2019 Sir Michael Snyder would succeed Ben Gunn as Senior Independent Director. Ben Gunn back then took on the newly created role of Deputy Chairman.

This happened shortly after Metro Bank revealed a major accounting error regarding how it classifies its loan book. The announcement about the error pushed the shares of the company sharply down, prompting it to raise fresh capital. Back then, the bank warned that the errors, in the way it had calculated the weight of some commercial loans and buy-to-let loans to major landlords, would take a chunk out of its risk-weighted assets.

Today, the bank announced the appointment of Sally Clark as a new Independent Non-Executive Director, with her appointment effective January 1, 2020.

Most recently, Sally Clark was Chief Internal Auditor at Barclays plc where she was responsible for driving the vision and strategy for the internal audit function, and she also championed diversity initiatives across the bank. Prior to her time at Barclays, she held senior positions in risk and audit with Royal Bank of Scotland and JP Morgan. She brings significant banking and risk management experience to the Metro Bank Board.

Metro Bank says its Board continues its search for additional independent NED candidates and expects to make further appointments next year.

Read this next

Retail FX, Technology

MetaTrader’s iOS issue opens brokers’ eyes to other trading platforms

In a surprising (or-not-so-surprising) move, Apple has removed MetaTrader 4 and MetaTrader 5 from its App Store in a huge blow for the leading FX trading platform provider.

Retail FX

Pepperstone adds analytics and automated trading tools free of charge

“We look forward to bringing significant value to Pepperstone traders and making a real, positive impact in their daily trading habits. We are excited to welcome them on board.”

Retail FX

FP Markets wins Best Global Value Broker for 4th consecutive year at the 2022 Global Forex Awards

“We greatly appreciate the continued international recognition as at FP Markets we pride ourselves on these attributes and these prestigious awards are testament to the hard work from our global team to always provide our clients with the ultimate trading experience.”

Inside View

How to Engage Your Customer at Every Stage of Their Journey

As many as 89% of successful businesses say that providing assistive customer experiences is critical to their growth. That’s because a mere 5% increase in customer retention can boost profits by 25% to 95%.

Industry News

CFTC fines Chinese firms Chinatex and COFCO $720,000 for wash trading

Chinatex traders engaged in wash trading in order to liquidate a long position in the account of an affiliated company and re-establish the position in its own account, to the ultimate benefit of its parent company, COFCO.

Industry News

US-based operation of Brazilian broker XP fined $500,000 for recordkeeping failures

“Proper recordkeeping is vital to protecting our markets and market participants from fraud and manipulation. This case serves as another example of the Commission’s intent to vigorously enforce the recordkeeping obligations of its registrants.”

Digital Assets

Bitfinex announces integration of USDt on Polkadot

Polkadot is the brainchild of British computer programmer and Ethereum co-founder and former CTO Gavin Wood.

Executive Moves

FPG hires ex-Fireblocks Chris Hazelton to head marketing at crypto prime broker

“Chris’s experience as a marketing leader at several exceptional businesses will help us refine our message to an institutional audience that’s overwhelmed with new information and show tangible examples of how we’ve helped customers like them scale successfully in crypto.”


FinanceFeeds Podcast Ep. #6: Gold-i’s Tom Higgins talks efficiency in FX and inner workings of Crypto Switch

On its sixth episode, the FinanceFeeds Podcast welcomed Tom Higgins, the founder and chief executive of trading systems integration provider, Gold-i.