Former Virgin Money chief executive Jayne-Anne Gadhia will be withdrawing from her appointment to the Bank of England’s financial policy committee.
The Treasury confirmed the move today and says it will launch a new appointment process in “due course” to fill the vacancy.
Gadhia will not be able to “commit the necessary time required” to serve on the FPC because of her recent appointment to an executive position at Salesforce UK.
She was appointed as an external member of the Bank of England’s FPC in January 2019.
In March, the Treasury confirmed she would join the FPC in April 2020 instead of April this year to ensure she was “free from conflicts” due to her continuing role with CYBG.
Gadhia was due to replace vice-chair of media company RTL Group Martin Taylor, who has agreed to continue in his role on the FPC until April 2020.
Gadhia was chief executive of Virgin Money from 2007 to 2018 until it merged with CYBG.