United Kingdom

Wife of Metro Bank founder spends £275,000 on shares in lender

The wife of Metro Bank’s billionaire founder has bought almost £300,000 of stock in the troubled lender.

Shirley Hill snapped up 100,000 shares at 275.2p each, filings show, splashing out £275,206 in total.

The investment will be seen as a vote of confidence in Metro, which has suffered an 84 per cent slump this year after an accounting scandal – wiping £2.7billion off its value.

Shirley Hill snapped up 100,000 shares at 275.2p each, filings show, splashing out £275,206 in total. Metro was founded in 2010 by Vernon Hill, 74,

 Metro was founded in 2010 by Vernon Hill, 74, with a mission to transform High Street banking.

But shares crashed when Metro revealed in January that it had miscalculated the riskiness of some property loans, and an emergency £375million fundraising in May has failed to halt the slide.

Shirley herself has been under the spotlight because of a deal which saw Metro pay £24million for branch design services to her architecture firm, Interarch, in a contract which has been axed.

Her share purchase, which took place on Friday and was announced to the market this week, is the latest sign that bosses are trying to shore up confidence.

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