Metro Bank CEO stands down

By John Reynolds on Monday 9 December 2019

Digital Banking

The exit of Craig Donaldson comes amid a difficult time for the lender, which revealed a £900m accounting error in January this year.

Metro Bank CEO stands down
Image source: Image provided by Metro Bank

The CEO of Metro Bank is standing down amid a difficult period for the lender.

Craig Donaldson (pictured), who has been with Metro Bank since its inception in 2009, will leave at the end of 2019. 

He will remain an adviser to the board until the end of next year.

The announcement of Donaldson's departure comes just weeks after the exit of Metro Bank founder and Chairman Vernon Hill, who resigned with immediate effect.

The lender is now on the hunt for a replacement, saying it will consider internal and external candidates.

In the interim, Dan Frumkin, who joined Metro Bank in September this year, has been appointed interim CEO from January 1 next year.

The exit of Donaldson comes amid a troubling period for the lender, whose shares have crashed since it revealed a £900m accounting blunder in January this year.


Sign up for our newsletters

Your daily 7am download of all things alternative finance and fintech.

Fintech and alternative finance headlines with an exclusive Editor's Note each week. Delivered Monday at midday.

AltFi's new weekly US newsletter breaking down the ins and outs of America's burgeoning fintech sector. Delivered Monday 9am EST/ 6am PST.