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Virgin Money builds an executive team for the future

21/08/2013

  • Lee Rochford will join as Chief Financial Officer
  • Michele Greene will join as Director of Banking
  • The appointments reflect Virgin Money’s growth and ambitious plans for the future

Virgin Money (the “Company”) has today announced that it will further strengthen its Executive Team through two new appointments. The appointments reflect the significant progress the Company has made to date and the Board’s desire to position Virgin Money strongly for the next important phase in its journey.

Since the acquisition of Northern Rock in January 2012, Virgin Money has experienced a period of unprecedented growth. It has opened over 1.7 million new customer accounts, seen strong growth in retail deposit balances and in mortgage lending, and maintained a strong liquidity position and robust capital ratios. Financial performance has been significantly improved and as announced in a recent trading update, Virgin Money has returned to profitable monthly trading with the Company expecting to report an annual underlying profit for 2013. The two new appointments reflect Virgin Money’s ambitious plans for the future and a determination to build a better kind of bank, offering a full range of retail services to its customers.

Lee Rochford will join Virgin Money in October as Chief Financial Officer (CFO) and will also join the Board of Virgin Money Holdings (UK) Limited. Lee brings extensive experience of global financial markets to the team and has over 15 years experience at Executive level.

Lee joins the Company from Royal Bank of Scotland plc, where he was Head of the Financial Institution Group for Europe, the Middle East and Africa, having previously held senior roles at BNP Paribas, Credit Suisse and Wachovia Securities.

Finlay Williamson will remain with the business as Finance Director.

Michele Greene will join Virgin Money in October as Director of Banking. Following the Company’s announcement in January 2013 that it is launching its own Credit Card business, Michele will assume responsibility for its future development. She will also assume responsibility for the launch and growth of the Company’s planned range of Current Accounts.

Michele joins Virgin Money from MBNA Limited, where she served as a member of the MBNA Board and has built significant experience in the development and growth of successful banking businesses.

Jayne-Anne Gadhia, Chief Executive Officer said: “We have experienced unprecedented growth across the business. Financial performance has been significantly improved since the acquisition of Northern Rock and the Company has returned to profitability. We are now planning for the future as we continue on our quest to build a better kind of bank, offering a full range of retail financial services to our customers.

“I am delighted that Lee and Michele will be joining the Virgin Money Executive Team. Both are very important appointments and they represent another significant step for Virgin Money.

“Lee brings enormous experience of the financial markets and this will be critical to us in the coming years and Michele joins us as Director of Banking, with responsibility for Credit Cards and Current Accounts – two key markets for us as we continue to build the Virgin Money of the future.

“I look forward to working closely with both of them.”

- ENDS -


Media Contacts
Virgin Money Press Office
Tel: 0191 279 4676
Email: press.office@virginmoney.com

NOTES TO EDITORS


1. Virgin Money Executive Team

Following the appointments, the Virgin Money Executive Team will comprise:

  • Jayne-Anne Gadhia, Chief Executive Officer
  • Lee Rochford, Chief Financial Officer
  • Marian Watson, Chief Risk Officer
  • Mark Parker, Chief Operating Officer
  • Pete Ball, Director of Financial Services
  • Michele Greene, Director of Banking
  • Brian Brodie, Customer and Distribution Director
  • Matt Elliott, People Director
  • Stephen Pearson, General Counsel

2. Lee Rochford - Career Summary

Head of the Financial Institution Group, EMEA RBS, 2007 – Present

Responsible for leading a team of over 100 professionals across the EMEA region, providing advisory, capital markets and risk solutions for financial institutions including Balance Sheet Solutions and Advisory, Securitisation, Covered Bonds, Hybrid Capital, Liability Management, Ratings Advisory and Interest Rate Solutions. Responsible for leading relationships with Financial Institutions across Northern Europe.

Managing Director, Principal Finance Wachovia Securities, 2006 – 2007

Managing Director, Asset Finance, Credit Suisse, 2000 – 2006

Head of Northern European Securitisation, BNP Paribas, 1991 – 2000

Account Officer British & Commonwealth Bank, 1988 – 1991


3. Michele Greene - Career Summary

Chief Financial Officer, MBNA Limited, 1997 – Present

A key decision making role, holding a position on the board of MBNA Limited and responsible for establishing the strategic direction of the business in close partnership with the CEO. Responsibilities included leading a team of 80 finance professionals in addition to a business intelligence function with a team of 150 data mining, business insight and analytical experts.

Group Accountant, Goldman Sachs, 1996 – 1997

Financial Accountant, Credit Lyonnais, 1993 – 1996

Senior Auditor, KPMG Dublin, 1989 – 1993


4. About Virgin Money

  • Virgin Money provides savings, mortgages, credit cards, pensions, investment and protection products to over four million customers
  • Virgin Money’s business ambition is to make “everyone better off” – this philosophy underpins our approach to business as we aim to offer good value to customers, treat employees well, make a positive contribution to society and deliver a profit to our shareholders
  • Virgin Money is the official sponsor of the London Marathon, the biggest annual fundraising event in the world. Virgin Money aims to help runners raise over £250 million over 5 years and will use its infrastructure, online capability and financial expertise to deliver that through Virgin Money Giving

Virgin Money Holdings (UK) Limited registered in England and Wales under company number 03087587.
Registered Office: Discovery House, Whiting Road, Norwich, NR4 6EJ.