Metro Bank CFO exits as results loom

Metro Bank chief financial officer David Arden has departed with the Bank’s financial results due out in the coming days.

Metro confirmed that the decision was “agreed with the board” but gave no reason for thee departure.

Prior to joining Metro Bank Arden held CFO roles with Sainsbury’s Bank and Shop Direct. He also had stints at RBS and Tesco Bank.

Daniel Frumkin, chief executive of Metro Bank, 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.”

Deputy chief financial officer, Marc Jenkins, will step into the role while the bank recruits for Arden’s full-time replacement.

Metro Bank made a pre-tax loss of £138.9m in the six months to 30 June 2021, nearly double the losses of £71m seen in the six months prior.

Metro Bank’s results are due on 23rd February.