Metro Bank
Encyclopedia
Metro Bank plc is a retail bank operating in the United Kingdom
as from 2010. It was founded by Anthony Thomson (chairman) and Vernon Hill
(vice-chairman). The bank aims be customer-oriented.
(FSA). It was the first high-street bank to be granted such a licence for over 150 years. Its first branch opened in Holborn
on 29 July 2010 and its second in Earl's Court (Cromwell Road
) on 3 September 2010. Subsequently branches have opened in Fulham
and Borehamwood
, Bromley
, Croydon
and on Kensington High Street
. A branch in Uxbridge
will be opening in late October 2011. In July 2010, Metro Bank entered into an agreement with MasterCard
to provide MasterCard payment cards to its customers, including issuing Debit MasterCard
with its current accounts.
Vernon Hill, the vice-chairman, founded a bank called Commerce Bancorp
(commonly known as Commerce Bank) in 1973. Starting from one office in Philadelphia, USA, it grew to have assets of $
50 billion and 500 offices throughout the eastern coast of the USA. Commerce Bank has received many consumer awards for best retail bank. It was bought by Toronto-Dominion Bank
in 2007.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
as from 2010. It was founded by Anthony Thomson (chairman) and Vernon Hill
Vernon Hill
Vernon W. Hill II is the founder and former chairman, president, and chief executive officer of Commerce Bancorp and Commerce Bank of Cherry Hill, New Jersey...
(vice-chairman). The bank aims be customer-oriented.
History
Metro Bank was granted a full-service banking licence on 5 March 2010 by the Financial Services AuthorityFinancial Services Authority
The Financial Services Authority is a quasi-judicial body responsible for the regulation of the financial services industry in the United Kingdom. Its board is appointed by the Treasury and the organisation is structured as a company limited by guarantee and owned by the UK government. Its main...
(FSA). It was the first high-street bank to be granted such a licence for over 150 years. Its first branch opened in Holborn
Holborn
Holborn is an area of Central London. Holborn is also the name of the area's principal east-west street, running as High Holborn from St Giles's High Street to Gray's Inn Road and then on to Holborn Viaduct...
on 29 July 2010 and its second in Earl's Court (Cromwell Road
Cromwell Road
Cromwell Road is a major road in the Royal Borough of Kensington and Chelsea, London, and is designated part of the A4. It was created in the 19th century and is named after Oliver Cromwell....
) on 3 September 2010. Subsequently branches have opened in Fulham
Fulham
Fulham is an area of southwest London in the London Borough of Hammersmith and Fulham, SW6 located south west of Charing Cross. It lies on the left bank of the Thames, between Putney and Chelsea. The area is identified in the London Plan as one of 35 major centres in Greater London...
and Borehamwood
Borehamwood
-Film industry:Since the 1920s, the town has been home to several film studios and many shots of its streets are included in final cuts of 20th century British films. This earned it the nickname of the "British Hollywood"...
, Bromley
Bromley
Bromley is a large suburban town in south east London, England and the administrative headquarters of the London Borough of Bromley. It was historically a market town, and prior to 1963 was in the county of Kent and formed the administrative centre of the Municipal Borough of Bromley...
, Croydon
Croydon
Croydon is a town in South London, England, located within the London Borough of Croydon to which it gives its name. It is situated south of Charing Cross...
and on Kensington High Street
Kensington High Street
Kensington High Street is the main shopping street in Kensington, west London. The area is identified in the London Plan as one of 35 major centres in Greater London....
. A branch in Uxbridge
Uxbridge
Uxbridge is a large town located in north west London, England and is the administrative headquarters of the London Borough of Hillingdon. It forms part of the ceremonial county of Greater London. It is located west-northwest of Charing Cross and is one of the major metropolitan centres...
will be opening in late October 2011. In July 2010, Metro Bank entered into an agreement with MasterCard
MasterCard
Mastercard Incorporated or MasterCard Worldwide is an American multinational financial services corporation with its headquarters in the MasterCard International Global Headquarters, Purchase, Harrison, New York, United States...
to provide MasterCard payment cards to its customers, including issuing Debit MasterCard
Debit MasterCard
The Debit MasterCard is a type of debit card in the United Kingdom, Australia, the United States and other countries. It uses the same systems as the standard MasterCard credit card, but does not use a line of credit to the customer as it is a debit card...
with its current accounts.
Key personnel
Anthony Thomson, the chairman, had had 27 years of experience in financial services. He chairs the UK Financial Services Forum, in which senior executives discuss financial services marketing.Vernon Hill, the vice-chairman, founded a bank called Commerce Bancorp
Commerce Bancorp
TD Bank, N.A., is a national banking institution in the United States which offers banking, insurance, brokerage, and investment banking services in Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, South Carolina,...
(commonly known as Commerce Bank) in 1973. Starting from one office in Philadelphia, USA, it grew to have assets of $
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
50 billion and 500 offices throughout the eastern coast of the USA. Commerce Bank has received many consumer awards for best retail bank. It was bought by Toronto-Dominion Bank
Toronto-Dominion Bank
The Toronto-Dominion Bank , is the second-largest bank in Canada by market capitalization and based on assets. It is also the sixth largest bank in North America. Commonly known as TD and operating as TD Bank Group, the bank was created in 1955 through the merger of the Bank of Toronto and the...
in 2007.