Activist investor Caius Capital has made an additional $11 million investment in Metro Bank taking its stake to 5% in total and making it one of the troubled challenger bank’s ten largest investors, according to a report by CityAM.
The new investment by Caius Capital, which focuses on “distressed and special situations”, comes a month after the Financial Conduct Authority (FCA) fined Metro Bank £10 million over an accounting scandal which has seen shares in the bank plummet since 2019.
As well as sanctions against the bank, the FC also ordered Former CEO Craig Donaldson, who was forced out in December 2019, and ex-CFO David Arden to pay £223,000 and £134,600 respectively for being “knowingly concerned” with the banks publication of inaccurate information regarding its risk-weighted assets.
Shares in Metro Bank are currently trading 96 per cent down on their 2018 peak.
