Linklaters and Clifford Chance lead on Metro Bank's proposed £1.9bn float

Linklaters and Clifford Chance (CC) are understood to have won key roles on the proposed flotation of Metro Bank.

According to Sky News, Metro Bank plans to float at the end of next month in a move that would value it at £1.9bn.

Linklaters is acting for Metro Bank while CC is acting for the underwriters.

The Linklaters team consists of senior corporate partner Charlie Jacobs, corporate partner John Lane and US qualified corporate partner Jason Manketo.

The head of CC’s capital market practice Adrian Cartwright is leading for the underwriters, alongside US securities partner John Connolly.

Metro Bank launched in 2010, becoming Britain’s first new high street bank in more than a century. It now has 40 branches across greater London and aims to have 200 by 2020.

In December, a Linklaters team led by Jacobs acted on the €18.6bn (£13.5bn) Frankfurt listing of South African furniture retailer Steinhoff.

On that deal Amsterdam corporate partner Pieter Riemer and Frankfurt capital markets partner Marco Carbonare also played key roles.

CC is currently advising National Australia Bank on the upcoming flotation of Clydesdale Bank, its UK arm. Linklaters meanwhile is advising the underwriters, with a team led by Lane and fellow corporate partner James Wootton, with Patrick Sheil advising on US issues.

Cartwright is also involved in that deal, alongside M&A partners David Pudge and Lee Coney and financial regulatory practice head Christopher Bates.

Last year Cartwright and Connolly also teamed up to advise the banking consortium on the flotation of Auto Trader on the London Stock Exchange, while Simpson Thacher & Bartlett advised the company.