Jaime Gilinski Bacal Joins Metro Bank Board After Rescue Deal
This investment was crucial in helping the bank secure a £925 million funding package, reaffirming the value of its branch network, referred to as “stores.”
With an estimated worth of about $5.4 billion, Gilinski Bacal is known for his long-term investments in the banking sector across Latin America, Spain, and the UK. His strategy often involves revitalizing struggling lenders, a skill set he now brings to Metro Bank.
Metro Bank chairman Robert Sharpe expressed confidence in Gilinski Bacal’s decades of banking expertise and experience, noting it will be invaluable for the bank’s next growth phase. Sharpe highlighted Gilinski Bacal’s commitment as a long-term, supportive shareholder.
Gilinski Bacal expressed optimism about Metro Bank’s growth potential and his role in its ongoing evolution. He emphasized the bank’s unique combination of customer-centric physical presence and digital capabilities as a competitive advantage.
As Metro Bank strategizes to save around £50 million annually, including workforce reductions and operational efficiency reviews, Gilinski Bacal’s appointment marks a significant step in its efforts to maintain a robust high street presence while evolving its business model.
