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Travers Smith advises on historic bank launch

Saturday, 23 February 2019

Thursday, 5 August 2010

Thursday 29th July marked the historic opening of the first High Street bank to launch in Britain in over 100 years. Metro Bank challenges accepted banking practices, is designed around a retail store model that puts the customer first, and will open 7 days a week (8:00-8:00, Sundays 11:00-4:00) and provide telephone and internet banking. It plans to expand across Central and Greater London. Its first store opened last Thursday at One Southampton Row, Holborn, and Cromwell Road and Earls Court will follow next month.

Travers Smith LLP is proud to announce that it advised Metro Bank PLC from its inception, including on its fund raising, FSA authorisation, outsourcing contracts and the documentation for its product range. Margaret Chamberlain, Head of the Financial Services and Markets Department said, "It is not easy to start a brand new bank and the founders of Metro Bank, Vernon Hill and Anthony Thomson, deserve congratulations for their determination to bring a better banking experience to the British public. It has been an exciting experience and a privilege to work with the Metro Bank team in the long build up to this important day".

Teams from Travers Smith´s financial services, commercial, corporate and banking departments have been particularly heavily involved in the establishment of Metro Bank. Key individuals include Mark Evans, Tim Lewis, Margaret Chamberlain, Richard Skelton, Dan Reavill, Clare Jenkinson and Martin Cook.