Times of Tunbridge Wells Issue 3, March 18th 2015

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timesoftunbridgewells.co.uk @timesoftw

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Wednesday, March 18, 2015

OF TUNBRIDGE WELLS

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SARAH PATTEN

JEREMY CLARKSON

Rusthall mum writes Asperger’s food guide Pg 20

Former Stig says ‘show must go on’ Pg 10

CITROEN C4

Metro Man is coming to town...with his dog AMERICAN IS CUSTOMERS’ CHAMPION AS HE TAKES ON “BROKEN BANKS OPERATING A CARTEL” IN THE UK THE face of high street banking in Tunbridge Wells is about to change with the arrival of Metro Bank. It will open from early until late seven days a week and will siphon off customers from every other local bank. That’s according to Vernon W Hill II founder and chairman of Metro which is using the same business model that took his operation in America from a $1.5million start-up bank to one that eventually sold for $8billion. Talking exclusively to the Times Mr Hill said: “Somehow I became pretty good at managing the financial side of banking and looked at it as a retailing business, not as a bank business. “We are running the identical model we had in America. Everything we did in New York works better here, because banks are old and stale.” The outspoken 69-year-old, described as the ‘PT Barnum of banking’, said that when he looked at British banks he found the market was served by “five broken banks that had operated a cartel here for years, both on the commercial side and the consumer side, where customer dissatisfaction was very high.” He added: “There is nothing I like better than to compete with big broken models. And the British banks’ philosophy was and is, they are doing you a favour by letting you bank with them.” His approach to banking embraces people’s love of animals, particularly dogs. At his bank customers are

positively encouraged to bring dogs through the doors. He said: “We give dogs a treat, we give them a bowl of water and here’s why this is important. Customers take that to mean that ‘if you love my dog you must love me.’” And Mr Hill practises what he preaches. His Yorkshire terrier Duffy travels the world with him aboard his luxury jet and even sleeps on a pillow between Mr and Mrs Hill. Mr Hill told the Times that if anti rabies regulations had still been in place in the UK then Metro Bank would not have happened. He would not have left Duffy home alone in America from where he commutes to London. Whatever the thinking behind Metro Bank it appears to be a success. The Tunbridge Wells ‘store’, which is opposite the main entrance to Royal Victoria Place and opens its doors in May, will be the 33rd branch in the UK. And the numbers are also looking impressive. Mr Hill said: “At the end of the year just passed, our results showed: 450,000 people bank with us already in a market where you all believe you won’t switch banks. “Our deposits year to year are up 118 per cent and our loans year to year are up 112 per cent, so it’s gone amazingly well, amazingly well, and the customers really get it.” Turn to pages 6 and 7

The British banks’ philosophy was and is, they are doing you a favour by letting you bank with them

ADRIAN QUAIFE-HOBB

The strong family appeal of this car Pg 62

New challenge for Pembury driver Pg 71

INSIDE POLICING

What stinging budget cuts will mean for our town

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METRO BANK CHAIRMAN Vernon W Hill II

MOTORING

Woman writes off £800 deposit on second hand car

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EDUCATION

The challenge of dealing with grammar schools

PAGE 21

BALLOONING

Newspaper finds fan 200 miles away near Paris

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