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Virgin Money appoints Stephen Pearson as General Counsel

Virgin Money, the banking division of the Virgin Group is pleased to announce that Stephen Pearson, 49, will join the Virgin Money management team as General Counsel (subject to FSA approval.)

Stephen has over 20 years legal experience in both business and private practice, most recently as General Counsel, Specialist Services and Litigation at RBS Group with responsibility for the Regulatory, Competition and Intellectual Property legal teams as well as all types of commercial disputes.

At RBS Stephen was a member of the RBS Group Executive, Coutts Bank Audit Committee and in the legal sector he has served on various Commercial Court committees for both Scotland and England.

Stephen will join Virgin Money on 3 August 2010 and will report to Jayne-Anne Gadhia, Chief Executive of Virgin Money who said: "I am delighted that Stephen has agreed to join us. He has extensive legal experience across a wide range of areas including, retail and corporate banking, consumer credit and judicial review as well as commercial litigation. He has handled sensitive regulatory issues, advised on board governance and is well respected in the legal sector. I'd like to welcome Stephen to Virgin Money, I am sure he will prove to be an invaluable new addition to the Virgin Money team".

Commenting on his appointment, Stephen Pearson said: "One result of the financial crisis is that the shape of the UK banking industry is changing. Jayne-Anne's vision and ambition to make "everyone better off" by offering good value to customers, treating employees well, and making a positive contribution to society as well as delivering a fair profit to shareholders really resonated with me. I believe Virgin Money is ideally positioned to grow and help restore much needed trust in UK retail banking. I look forward to playing my part in that ambition".

Before working for RBS Group Stephen was a Partner at city law firm Travers Smith LLP dealing with corporate recovery, insolvency and banking litigation between 1993 and 2001. Prior to that he spent six years at Linkaters LLP in their Commercial Litigation Department. He is qualified in both Scotland and England.

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About Virgin Money:

  • Virgin Money is Virgin's financial services arm and was established in 1995 as a joint venture between the Virgin Group and Norwich Union.
  • In 1997, Virgin Money launched The Virgin One Account, a joint venture with The Royal Bank of Scotland that offered the UK’s first current account mortgage direct to the retail market. In 2001, RBS bought out Virgin Group’s stake in the joint venture for £100m.
  • In April 2004 the Virgin Group took 100% ownership of Virgin Money.
  • Virgin Money currently has over 2.5 million customers and offers credit cards, savings and investment and general insurance products to the UK market.
  • Virgin Money’s brand ambition is to make “everyone better off” – this philosophy underpins our approach to business and means we always strive to look for the win-win, aiming to ensure there is balance in the benefits we deliver to our key stakeholders.
  • Virgin has signed a five-year deal to be the official sponsor of the London Marathon, the biggest annual fundraising event in the world. The inaugural Virgin London Marathon was on 25 April 2010. Virgin Money, the financial services division of the Virgin Group is leading the London Marathon sponsorship with the ambition to help runners raise £¼ billion over 5 years and will use its infrastructure, online capability and financial expertise to deliver that through Virgin Money Giving.
  • The focus on sponsoring the marathon reflects the nature of the event as the single biggest charity fundraising day on the planet and supports the “everyone’s better off” brand ambition.

For more information, please visit Virgin Money

Virgin Money Personal Financial Service Ltd is authorised and regulated by the Financial Services Authority (FSA). Registered office: Discovery House, Whiting Road, Norwich NR4 6EJ. Registered in England No. 3072766. Entered on the Financial Services Authority's register number 179271.