News Column

Metro Bank in running for PwC bank contract

February 19, 2014

TIM WALLACE



METRO Bank, RBS and Santander are understood to be among the banks bidding for PwC's business, as the professional services firm shakes up its finance relationships.


The changes come as PwC takes on HSBC as an audit client, and so can no longer bank with the firm.


PwC also audits Barclays and Lloyds, narrowing the field in this month's beauty parade. HSBC's work included an 81bn working capital facility, as well as a range of accounts services. RBS already runs some services for PwC, while Santander is moving into more business banking.


But the account would be a major coup for Metro Bank, which opened in 2010. It does have other big clients, like Rangers football club, but PwC would be its biggest City name."We are ahead of plan implementing these changes well in advance of our appointment as [HSBC's] auditor in 2015," said PwC. The banks declined to comment.


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Source: City A.M. (UK)


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