Business Updates Of LSE listed Metro Bank Plc And Schroders Plc

  • Dec 05, 2019 GMT
  • Team Kalkine
Business Updates Of LSE listed Metro Bank Plc And Schroders Plc
Metro Bank Plc

Metro Bank PLC (LON: MTRO) is a United Kingdom domiciled financial institution which offers personal and business banking services to retail and small and medium-size commercial customers. Headquartered in London, the company’s principal activities including the provision of banking and related services. Its business deposit accounts include Instant Access Deposit Accounts, Client Monies Deposit Accounts and Fixed Term Deposit Accounts, and the everyday banking products offered by the group include current accounts, cash management and payments. It also provides solutions for business borrowing, including commercial loans, credit cards, asset finance, working capital and portfolio buy to let and provides a range of business banking products and services, from bank and deposit accounts to cash management and payment services.

The Shares of the company have their listing on the London Stock Exchange. There they trade with the ticker name MTRO in the main market segment.

Trading Update

The company on 4 December 2019 came out with an update on the key management change that is scheduled to take place in the company by the year end 2020.

  • The company statement stated that Craig Donaldson the current Chief Executive Officer (CEO) of the company has agreed to step down from office after a discussion with the board.  Craig Donaldson has been with the bank since 2009 and has led the bank through some very tough times. After remitting office he would, however, stay on as an advisor to the board until the end of 2020.
  • Dan Frumkin, the current Chief Transformation Officer of the bank who had joined the bank and assumed office in the month of September of 2019, has been appointed as the interim Chief Executive officer (CEO) of the company. In the meantime, the Board will search for a suitable candidate to assume the role of the CEO of the bank, for which the board is considering both internal and external candidates equally.
Performance at the London Stock Exchange

Source – Thomson Reuters

At the time of writing of this report on 05 December 2019 the shares of the company were trading on the London Stock Exchange for GBX 184.00.

The shares of the company during the past 52 weeks trading at the London Stock Exchange have registered a 52-week high of GBX 2,216.00 while also registering a 52-week low of GBX 155.20. The company has a market capitalisation of £312.08 million on the London Stock Exchange at the time of writing of this report on 05 December 2019.

Outlook

Craig Donaldson has been at the helm of affairs of the bank for the past ten years now. His stewardship during the 2008-11 financial crisis and the current Brexit saga has been commendable. The bank, however, needs a new direction from now on to rise up to the new challenges and opportunities arising out of the post Brexit era in United Kingdom. Chief Transformation Officer Dan Frumkin, who has been leading the bank’s transformation is a suitable interim candidate considering the direction the board wants the bank to take. The Likely new CEO would be someone who would continue the transformative changes already being implemented at the bank

Schroders Plc

Schroders Plc (LON: SDR) is a United Kingdom domiciled financial services holding company having its headquarters in London. The company provides asset and wealth management advice and related services to businesses and individuals across the world. The company operates asset management business from 29 locations across Europe, the Americas, Asia and the Middle East and also provides advisory and consultancy services to financial institutions, high net worth clients, large corporates and other institutions. The company’s total asset under management as on 30 September 2019 was £450.8 billion with £268.8 billion with its institutional vertical, £ 130.0 billion with its intermediaries, £ 398.8 billion with its asset management division and £ 52.0 billion with its wealth management division.

The shares of the company have their listing on the London Stock Exchange. There they trade with the ticker name SDR in the main market segment. The shares of the company also form part of the FTSE 100 index on the London Stock Exchange.

Trading Update

The company on 15 October 2019 came out with a trading update on the total assets under management of the firm as on 30 September 2019.

  • The total assets under management (AUM) with the company as on 30 September 2019 was £8 billion in comparison to £407.2 billion assets under management (AUM) standing with the company on 1 January 2019.
  • All of the companies four divisions have done well during the period, with the AUM with the Wealth management division standing at £0 billion on 30 September 2019 rising from £43.7 billion standing on 1 January 2019.
  • The AUM with the Asset management division stood at £8 billion as on 30 September 2019 rising from £363.5 billion standing on 1 January 2019.
  • The AUM with the Intermediary division of the company stood at £0 billion as on 30 September 2019 rising from £121.2 billion standing on 1 January 2019.
  • The AUM with the Institutional division of the company division stood at £8 billion as on 30 September 2019 rising from £242.3 billion standing on 1 January 2019.

Performance at the London Stock Exchange

Source – Thomson Reuters

At the time of writing of this report on 05 December 2019 the shares of the company were trading on the London Stock Exchange for GBX 3,190.00.

The shares of the company during the past 52 weeks trading at the London Stock Exchange have registered a 52-week high of GBX 3,352.00 while also registering a 52-week low of GBX 2,289.00. The company has a market capitalisation of £7.23 billion on the London Stock Exchange at the time of writing of this report on 05 December 2019.

Outlook

The company has given out a sterling performance for the nine-month period of the year 2019 despite the negative Brexit related economic headwinds prevailing in the United Kingdom. The company is expected to end the year on a positive note having met the expectations of the market.

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