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February 13, 2020updated 12 Mar 2020 1:40pm

Ex-asset finance risk chief at Lloyds heads for exit door at Metro Bank

By Alejandro Gonzalez

Aileen Gillan, the former asset finance chief risk officer for Lloyds Banking Group, is to step down from her current role as chief risk officer for Metro Bank, according to a report in The Times.

Aileen Gillan, Metro Bank’s chief risk officer since February 2013, is to step down at the end of this month, as part of a revamp following a series of missteps at the bank which triggered a share price tumble and a probe by the City regulator.

Gillan’s exit comes on the heels of several senior departures at the bank. Craig Donaldson, the former chief executive, and Vernon Hill, the founder and chairman, left the bank in December 2019.

The Times report says Gillan leaves “amid an investigation by the Prudential Regulation Authority and the Financial Conduct Authority into a £900m accounting error at Metro”.

Metro revealed in September that the FCA was widening its remit to cover “certain senior members of management” and to cover the period from June 1, 2017, to February 26 last year, The Times reported.

In September 2019 Metro Bank was ejected from the FTSE 250 after its value nosedived because of an accounting error that saw them misclassify low-risk loans it was holding.

The Times reported a spokesperson for Metro Bank said Gillan was leaving “to pursue new opportunities”.

According to the Metro Bank website, Gillan “is responsible for management and oversight of the risk and control framework across the bank.

“This includes ensuring that Metro Bank fulfils its regulatory obligations, while lending safely and sustainably and continuing to give amazing service that surprises and delights customers.”

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