Vernon Hill has been appointed as chairman of Metro Bank.
Hill was founder and vice chairman of Metro Bank, which launched in July 2010 and currently has 15 stores open in London and the South East.
The bank has over 130,000 personal and business accounts, over £500 million in deposits and over £150 million in lending. Metro Bank plans to grow to 200 stores in the Greater London area by 2020.
Hill was the founder and former chairman and president of Commerce Bank, which was purchased in July 2007 by TD Financial for $8.5 billion.
He remains chairman of Pet Plan North America, co-chairman of Bankstocks.com and chairman of the Executive Committee of Saladworks.
Craig Donaldson, chief executive of Metro Bank, said: “Vernon was the natural choice as Chairman to lead Metro Bank’s exciting growth plans. His unrivalled banking expertise, coupled with his innate understanding of how to build a business based on customer satisfaction have been an incredible support since Metro Bank’s inception. Vernon is best placed to be the chairman of Metro Bank through its next stage of growth.”