Metro Bank faces revolt

MeTRO Bank founder Vernon hill could face an investor revolt at next month’s shareholder meeting following an accounting blunder which has called his leadership into question.

Advisory group Glass Lewis has advised the challenger bank’s shareholders to vote against 73-year-old hill’s re-appointment as chairman at the general meeting in May. The lender is facing criticism after revealing it misclassified loans and suggested it discovered the error itself – but it was actually spotted by Bank of england officials.

Glass also recommended a wider shake-up of the board, saying too many members have been in their roles since the bank’s beginnings in 2010.