Wednesday 18 October 2017

Ex-Anglo executive on UK bank team

Emmet Oliver

A former boss of Anglo Irish Bank's UK operations is part of the management team behind the first retail bank to open in Britain in decades.

Aisling Kane, the former operations director of Anglo Irish Bank UK, is on the executive team at Metro Bank which claims to be the first High Street bank to launch since the 19th century. The first branch will open at the end of July in London.

The company will adopt what it calls a "retail store model" -- open seven days a week with a promise that customers can open an account within 15 minutes.

Ms Kane is among a large group of Anglo executives who have taken up posts with other banks in recent years -- and even after its nationalisation in January 2009.

A number of ex-Anglo executives now work in the UK banking sector.

Among those to leave Anglo in recent months was top executive Peter Butler, head of the wealth management division, who filled in as acting group chief risk officer following the resignation of Willie McAteer, another key executive, in 2009.

Metro Bank was co-founded by experienced bank executives Vernon Hill and Anthony Thomson.

It is based on the Commerce Bank model that was established by Vernon Hill in the US in 1973.

Irish Independent

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