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		</div><p>Metro Bank founder and chairman Vernon Hill has stepped down with immediate effect following a difficult year for the troubled lender.</p>
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<p>The colourful American entrepreneur insisted the “best is yet to come” for the group as his departure was brought forward.</p>
<p>Metro Bank said in July that Mr Hill would step down, but stay on as president and a non-executive director.</p>
<p>He will now resign from his position as chairman and remain as a non-executive director until December 31, taking on the honorary position of emeritus chairman to “recognise Vernon’s extraordinary contribution to Metro Bank”.</p>
<blockquote><p>The board thanks Vernon for his vision which inspired and created Metro Bank 10 years ago. He leaves a lasting legacy of creating fans through exceptional customer service and has revolutionised British banking</p></blockquote>
<p>Sir Michael Snyder, senior independent director at Metro Bank, has been appointed as interim chairman until a permanent successor is appointed.</p>
<p>It comes ahead of the group’s third-quarter trading update after market close on Wednesday.</p>
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<p>Mr Hill said: “I wish all of our fans – Metro Bank’s customers, colleagues and shareholders – every success for the next stage of the journey.</p>
<p>“As always, the best is yet to come.”</p>
<p>Sir Michael said: “The board thanks Vernon for his vision which inspired and created Metro Bank 10 years ago.</p>
<p>“He leaves a lasting legacy of creating fans through exceptional customer service and has revolutionised British banking.”</p>
<p>Metro Bank has been under pressure, with its shares decimated since the start of 2019 after it revealed a £900 million accounting blunder in January.</p>
<p>Mr Hill’s departure comes after months of pressure from investors and regulators who expressed unease about his decision to remain on the company board despite resigning as chairman.</p>
<p>The bank’s troubles were compounded when it was forced to abandon a bond offer, initially planned to secure £250 million.</p>
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<p>The group relaunched fundraising plans earlier this month, looking to raise £300 million, which soared to around £475 million on strong demand from investors.</p>
<p>Mr Hill co-founded the bank more than eight years ago, focusing on building customer-friendly branches.</p>
<p>However, the business has faced questions over the viability of its high street-led model in a banking industry increasingly moving to digital.</p>
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