Metro Bank plc (LON:MTRO) announces that David Arden, Chief Financial Officer, has agreed with the Board that he will step down from the Board with immediate effect and leave the business on 1st April 2022.

Marc Jenkins, Deputy CFO, will assume responsibility for the Finance function from 15 February 2022 while the bank recruits for an interim CFO; that process has commenced and a further announcement will be made in due course. The Board will comprise of 10 members until a successor is appointed.

Daniel Frumkin, CEO said:

“On behalf of the Board I would like to thank David for the important work that he has done to strengthen Metro Bank’s financial controls over the past two years. He has played an instrumental role in helping to deliver the bank’s strategic priorities and turnaround plan and leaves with our best wishes for the future.”

David Arden is a member of the Chartered Institute of Management Accountants and holds a first-class degree in Economics from Leicester University.

Prior to joining Metro Bank, Mr Arden was CFO at Sainsbury’s Bank (a position he held for six years) and interim MD of Argos Financial Services, following the successful acquisition of Home Retail Group by J Sainsbury Plc in September 2016. He joined Sainsbury’s Bank from Shop Direct Financial Services, where he was Chief Financial Officer.

In his 28-year career, he has held a number of senior positions including Managing Director of RBS/NatWest credit cards and Finance and Risk Director for Tesco Bank.