Metro Bank Hires Morgan Stanley to Explore Capital Raise
- Challenger bank said last month it was weighing capital plans
- UK lender is no longer working with Jefferies, people say
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Metro Bank Holdings Plc has hired Morgan Stanley to explore a potential capital raise after it faced pushback from regulators on a plan that would allow it to reduce the capital its required to hold.
The UK lender is weighing several other options as it looks to shore up its balance sheet, including a securitization as well as asset and loan sales, according to people familiar with the matter. The company is no longer working with Jefferies Financial Group Inc., one of its corporate brokers, some of the people said, asking not to be identified discussing private matters.