Metro Bank shareholder LGIM to vote against chairman Vernon Hill

City A.M. | May 17, 2019 at 10:02 AM
  • Metro Bank shareholder Legal and General Investment Management has revealed plans to vote against chairman Vernon Hill’s re-election, ramping up pressure on the US founder.
  • LGIM, the 11th biggest shareholder in Metro Bank, added it had concerns over the major accounting error in January and the subsequent share price drop since.
  • The firm shared the concerns of Glass Lewis over payments made by the bank to Hill’s wife’s architecture firm Interarch.