Virgin Money has appointed Jayne-Anne Gadhia as chief executive.
Gadhia was formerly managing director of consumer finance at the Royal Bank of Scotland but resigned in December 2006 a week after an internal memo she sent was misinterpreted by staff who feared the One account was to be replaced with NatWest One.
RBS said her resignation was a result of her desire to do something different after 12 years with the group.
Her previous career spanned Virgin One, Virgin Direct and Norwich Union.
Mark Hodgkinson, the current chief executive, says: “I’m delighted to announce the return of Jayne-Anne.
“She has a fantastic track record in financial services and her drive, determination and experience will be a great asset to the business.”
Gadhia says: “I am delighted to be returning to Virgin Money after so many years away.
“I look forward to working with the team to continue to grow the business.”
Hodgkinson will work with Gadhia over the coming months to ensure a smooth transition period.