Virgin Money reveals management board
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Virgin Money has announced that Sir Brian Pitman will be joining the Virgin Money board as chairman.
Pitman was on the cusp of chairing Virgin’s banking division when Virgin was in the running to buy Northern Rock in 2008 before the lender was nationalised.
He is currently a senior advisor at Morgan Stanley, a senior independent director of Carphone Warehouse Group Plc and chairman of Acturis Limited.
He became chief executive of Lloyds Bank in 1983 and was appointed chairman of Lloyds TSB Group in 1997.
In November 2009 he was appointed by the Financial Services Authority as one of five advisors assisting the regulator on a framework for ensuring effective governance in financial institutions.
He is being joined on the board by Norman McLuskie and Colin Keogh as non-executive directors.
McLuskie worked for more than 20 years at Royal Bank of Scotland, retiring in 2004 and was deputy chief executive of RBS prior to the takeover of NatWest.
He then led RBS’s Retail Direct division, which included Tesco Personal Finance, and retired from RBS in 2004.
Meanwhile Colin Keogh worked at Close Brothers for 25 years and was group chief executive officer from 2002-2009.
The three new non-executive directors will provide direction to the Virgin Money executive team alongside existing directors Gordon McCallum and Patrick McCall.
The executive team at Virgin Money includes Jayne-Anne Gadhia, chief executive officer; Finlay Williamson, chief finance officer; Marian Watson, chief risk officer; and Roland Russell, chief operating officer.
Sir Brian Pitman, chairman of Virgin Money, says: “I am impressed with the Virgin Money business and I am looking forward to working with Jayne-Anne Gadhia and her team.
“Our bank will be well capitalised and managed prudently with a strong focus on serving customers.
“It will see a much needed return of old fashioned banking principles.”
The appointments follow Virgin Money’s acquisition of regional lender Church House Trust, which Virgin have said will be used as platform for the expansion in the UK banking sector.
Jayne-Anne Gadhia, chief executive of Virgin Money, says: “The completion of the Church House Trust deal and the appointments of Sir Brian Pitman, Norman McLuskie and Colin Keogh are significant milestones for Virgin Money.
“The demonstrable skill and experience of the executive team and the board makes us certain we can make a positive difference in UK banking.”
