Metro Bank Holdings PLC (LSE:MTRO) has appointed Colombian billionaire Jaime Gilinski Bacal, who owns almost a 53% stake in the lender, as a non-executive director.
He will officially join the board once regulatory approvals and other formalities are completed.
Under an agreement made last year, when Gilinski's Spaldy Investments vehicle contributed a third of last year's £325 million rescue package, taking its stake to 52.88%, it has the right to appoint three directors to the board of the challenger bank.
The 66-year-old tycoon joins his daughter, Dorita, on the board, who was appointed in 2022.
Gilinski, who also owns four banks in Latin America, Banco GNB Sudameris, Banco GNB Peru, Banco GNB Paraguay and Lulo Bank, said: "There are many opportunities for Metro Bank to grow and I am looking forward to playing a part in the evolution of the bank as we build on the solid foundational work undertaken to date.
"A customer-centric physical presence complemented by digital capabilities remains a unique offering and sets Metro Bank apart."
Metro chair Robert Sharpe said the appointment "underscores the commitment he has long shown to the bank as a supportive, long-term shareholder".