Virgin Money Holdings UK PLC
VM.:LN
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Overview
Company Profile
Retail bank offering credit cards, start-up loans, cash ISAs, and mortgages. It acquired mortgage lender Northern Rock in January 2012. Listed on the LSE since November 2014, it is mainly funded via retail savings deposits although it has obtained some monies via wholesale funding markets through the securitisation of mortgage-backed securities.
Classification
Financials
News & Media
Corporate
Board of Directors
Glen Moreno BA
Chairman
Skills and experience: Glen has over 40 years’ experience in business and finance gained from senior positions in a wide range of industries. Glen’s deep financial services knowledge and experience, leadership qualities and credibility with key stakeholders made him the unanimous choice of the Board to be appointed as Chairman of Virgin Money. Glen has a BA degree from Stanford University, was a Rotary Foundation Fellow at Delhi University, and received a JD degree in 1969 from Harvard Law School. External appointments: Glen is the Chairman of Pearson Plc, where he chairs its Nomination Committee and is a member of the Remuneration Committee. It is Glen\'s intention to stand down by April 2016 as announced by Pearson Plc. He is also Non-Executive Director of Fidelity International Limited. Former appointments: Glen is a former Deputy Chairman of the Financial Reporting Council and former acting Chairman of UK Financial Investments Limited, the company set up by HM Treasury to manage the Government’s shareholdings in UK banks. He was Senior Independent Director at Lloyds Banking Group plc from 2010 to 2012 and Deputy Chairman late in his tenure, and he was Senior Independent Director at Man Group plc from 2001 to 2009. In his executive capacity, Glen worked at Citigroup in Europe and Asia for 18 years, running the investment banking and trading division as a Group Executive. He was also Chief Executive of Fidelity International from 1987 to 199
Norman McLuskie
Senior Independent Director
Skills and experience: Norman is Senior Independent Director. He is a chartered accountant and has over 30 years financial experience in the UK listed environment having served in a number of senior positions at Royal Bank of Scotland Group (RBS). With over 30 years of experience in financial services, he is well placed to carry Norman McLuskie No out these roles for Virgin Money. CA, FCIBS Senior Independent Director External appointments: None. Former appointments: Norman was the former Deputy Chief Executive at RBS, prior to the takeover of National Westminster Joined the Board in January 2012 Bank. He held various senior positions at RBS including Chief Executive of Retail Direct, which comprised Tesco Personal Finance Virgin One account, Direct Line Financial Services and the RBS Credit Card business. Norman also served as Chairman of Mastercard Europe and NonExecutive Director of Mastercard International and RBS Insurance. Norman started his career with Touche Ross where he qualified as a chartered accountant in 1971. He is is a fellow of the Chartered Institute of Bankers in Scotland.
Colin Keogh
Independent Non-Executive Director J
Skills and experience: Colin has spent his career in financial services, principally at Close Brothers where he worked for 24 years. During that time he held a number of senior management and board positions. Having been appointed to the Group Board in 1995 he became Group Chief Executive Officer in 2002. He has a deep understanding of risk management, underpinned by his knowledge of banking operations. Colin is a Barrister of Law. He has a MA in Law from the University of Oxford and a MBA from INSEAD. External appointments: Colin is a Non-Executive Director of a number of companies in a wide range of sectors, including Brait SE, a specialist investment company listed in Johannesburg and Luxembourg; and Emerald Plantation Holdings Limited. Former appointments: Colin is the former Group Chief Executive at Close Brothers Group plc (from 2002 to 2009). He held various senior positions at Close Brothers during his executive career, including Chief Executive and Chairman of the Corporate Finance Division and Chief Executive of the Asset Management Division
Marilyn H Spearing
Independent Non-Executive Director
Skills and experience: Marilyn has extensive financial services experience, specialising in payments, cash management and related technology platforms. With her broad experience, particularly in managing organisational, operational and structural change, Marilyn is well placed to review strategic developments and contribute to the debate at Board and Committee meetings. She has a BA, French Major from Montclair State University, New Jersey and a MBA from Pace University, New York. Marilyn H Spearing BA, MBA Independent Non-Executive Director Joined the Board in January 2014 External appointments: None. Former appointments: Marilyn was Global Head of Trade Finance and Cash Management at Deutsche Bank AG from 2006 to 2012, building the business to a global scale covering 35 markets. She had previously spent 11 years at HSBC Holdings plc as Global Head of Payments and Cash Management. Prior to this, she held a number of senior roles at Barclays Global Services Division and Barclays de Zoete Wedd in New York. She also served on the Boards of SWIFT and BACS (now Vocalink).
Olivia C Dickson
Independent NonExecutive Director
Skills and experience: Olivia has extensive experience in financial services and in remuneration and risk governance, and maintains close dialogue with Virgin Money’s major shareholders with the aim of aligning executive reward with shareholder interests. Olivia holds an MA in Mathematics from the University of Oxford and an MSc in Management from the University of London. She is a Sloan Fellow of the London Business School. External appointments: Olivia is a Non-Executive Director and Chair of the Risk Committee of Canada Life Limited and NonExecutive Director and Chair of the Actuarial Council of the Financial Reporting Council. Former appointments: Olivia was previously Non-Executive Director of Investec plc; a Non-Executive Director and Chair of the Risk and Compliance Committee of Aon Limited; a member of the Regulatory Decisions Committee of the Financial Services Authority; the Senior Independent Director and Chair of the Audit Committee of Invista Real Estate and a Trustee Director of the Mineworkers’ Pension Scheme. Olivia’s executive career was at Kleinwort Benson and then JP Morgan, where she was a Managing Director and Head of European Derivatives Brokerage.
Geeta Gopalan
Independent Non-Executive Director
Skills and experience: Geeta has significant experience in core services in banking and financial services in UK and Western Europe with particular focus on digital innovation and payment services. Geeta also has experience as a management board member of a financial services business focussed on electronic supply chain financing in India and the Middle East. Geeta is a Chartered Accountant (India) and has a BCom degree in Commerce with Economics, Maths and Accountancy from Madras University. External appointments: Geeta currently holds Independent NonExecutive Directorships with Vocalink, the payment systems and ATM switching platform specialist, and its subsidiary Advanced Payment Technology Ltd, a company focussed on mobile payment solutions. Geeta is also a Non-Executive Member and Vice Chair of the England Committee of the Big Lottery Fund, one of the largest funders of the community and voluntary sector in England. Former appointments: Geeta held the role of Director of Payment Services with HBOS and during 17 years at Citigroup held various roles including Global Transaction Services, Product Development Head EMEA and Managing Director, UK Retail Bank. At Monitise, the AIM listed mobile payments company, Geeta was Chair of Monitise Europe and previously held a Non-Executive position with Pilotlight
Jayne-Anne Gadhia
Executive Director and Chief Executive
Skills and experience: Jayne-Anne has significant finance and banking experience, built up over a period of more than 28 years. Jayne-Anne’s enthusiasm, drive and commitment to customers and to building a better bank, along with her proven ability to build businesses and lead strong management teams, brings significant value to all stakeholders of Virgin Money. Jayne-Anne is a chartered accountant and has a BA in History from the Royal Holloway, University of London. External appointments: Jayne-Anne is Chair of Scottish Business in the Community. Former appointments: Jayne-Anne trained as an accountant with Ernst & Young (formerly Ernst & Whinney) in 1982, before moving to Norwich Union in 1987, where she was marketing director of Norwich Union’s Unit Trust business. In 1995 she became one of the founders of Virgin Direct before launching the market-leading Virgin One account in 1998. That business was acquired by RBS in 2001, after which Jayne-Anne went on to lead a number of RBS business units, ultimately joining the RBS Retail Executive Board where she was responsible for the RBS Group’s mortgage business. Jayne-Anne rejoined Virgin Money in March 2007. Jayne-Anne was a Trustee of Business in the Community until 8th June 2015
Marian Watson
Chief Risk Officer
Marian is a chartered accountant and qualified with Ernst and Young. She joined the Britannia Building Society where she was internal audit manager, before spending four years at the Britannic Group where she was head of group audit and risk. Marian joined RBS in 2004 and served as risk director of the RBS Group’s consumer finance businesses, the mortgage business and then Tesco Personal Finance. Marian joined Virgin Money in 2007. Marian has a degree in Biochemistry from the University of Strathclyde.