LONDON, February 28, 2018 /PRNewswire/ --
Global Shares - leading provider of global equity compensation management solutions, today announced that it has appointed Metro Bank - the revolution in British banking - as its Sharesave Savings carrier, joining forces to support the significant number of companies in the UK offering Sharesave to their employees.
Sharesave is one of the most popular tax favourable share schemes in the UK. It enables employees to save between £5 and £500 per month direct from their pay, over a period of three or five years. After the savings period has elapsed, employees can either use the money saved to purchase shares in their company (at a price fixed at the start of the savings period) or have their savings returned.
Savings are protected by the Financial Services Compensation Scheme and can be withdrawn by employees at any time. Sharesave is exempt from tax and national insurance and employers can get corporation tax deduction on the cost of running the scheme.
Gabbi Stopp, Head of ProShare, an independent organisation which promotes share ownership in the UK, welcomed the news:
"We are delighted to see a new partnership enter the Sharesave market. Sharesave is a hugely popular share scheme, with c. 1.4 million employees benefiting from it with approximately 450 companies operating the scheme in the UK. It is always pleasing to see increased competition and dynamism in the sector."
John Meehan, Managing Director at Global Shares said:
"We are delighted to enter the UK Sharesave market, which is seeing a resurgence of interest thanks to legislative improvements and more tax efficient benefits. Metro Bank, like Global Shares, is a true disruptor and together we offer cutting-edge technology with an exceptional online experience, service excellence and an invigorated approach to saving. All of these ingredients make this partnership a great choice for companies and encourages their employees to avail of the opportunity to take a direct stake in their organisation."
Craig Donaldson, CEO at Metro Bank added:
"Metro Bank has well and truly disrupted banking and it is really rewarding to see other markets also benefit from new players, increasing competition and driving up customer choice. We look forward to continuing to work closely with Global Shares as it expands and provides more choice to companies up and down the country."
About Metro Bank
Metro Bank is the revolution in British banking. It is celebrated for its exceptional customer experience and its trusted products, and was awarded 'Most Trusted Financial Provider' at the Moneywise Customer Service Awards 2017, as well as 'Best Financial Provider' at the Evening Standard Business Awards 2017 and 'Bank of the Year' at the CityAM Awards 2016.
Offering retail, business, commercial and private banking services, it prides itself on using technology to give customers the choice to bank however, whenever and wherever they choose. Whether that's through its growing network of stores open seven days a week, from early in the morning to late at night, 362 days a year; on the phone through its UK-based 24/7 contact centres manned by people not machines; or online through its internet banking or award-winning mobile app.
The bank employs over 2,900 colleagues and is headquartered in Holborn, London.
Metro Bank PLC. Registered in England and Wales. Company number: 6419578. Registered office: One Southampton Row, London, WC1B 5HA. 'Metrobank' is the registered trade mark of Metro Bank PLC.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Most relevant deposits are protected by the Financial Services Compensation Scheme. For further information about the Scheme refer to the FSCS website http://www.fscs.org.uk.
All Metro Bank products are subject to status and approval.
Metro Bank PLC is an independent UK bank - it is not affiliated with any other bank or organisation (including the METRO newspaper or its publishers) anywhere in the world. Please refer to Metro Bank using the full name.
About Global Shares
Global Shares is a leading provider of equity compensation management solutions, providing Share Plan Administration, Global Custody, Share-dealing, Global Compliance, Financial Reporting and expert support services to companies and their employees in over 100 countries worldwide. The company has invested significantly in the development of new systems and technology and is highly regarded in the equity compensation industry. Global Shares offers a complete solution to private and public companies with advanced technology, a highly qualified team, service excellence and an exceptional user experience, managed from start to end by Global Shares. For more information please visit http://www.globalshares.com/uk
ProShare is the voice of the employee share ownership industry in the UK. It was established in 1992. ProShare is a not for profit organisation. For further information visit http://www.proshare.org. or email firstname.lastname@example.org
Notes to editors:
For more information, please contact:
Lead Exernal Communications Manager
A: 1 Southampton Row, London WC1B 5HA, UK
Global Shares UK
Head of Business Development, EMEA
A: 3 Bengal Court, Birchin Lane, London EC3V 9DD, UK
Global Shares Press & Media
SOURCE Global Shares