Virgin Money appoints RBS, HBOS and B&B executives
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Virgin Money has appointed former RBS executive Finlay Williamson as finance director.
The firm, founded by Richard Branson, has also appointed former Bradford & Bingley director of savings Ian Cornelius as banking director and HBOS head of legal for retail Marcus Ezekiel as commercial director.
A Virgin Money spokesman says: “We are hiring people with the relevant skills and experience and Finlay, Ian and Marcus will be invaluable to the Virgin business.”
Earlier this month, Virgin Money agreed a deal to buy a small regional private bank Church House Trust, which it will use as the platform for its retail banking launch.
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Readers' comments (11)
Evan Owen | 18 Jan 2010 1:10 pm
So much for the 'blue sky thinking' which I assumed was what they were all about!!
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John Lacy | 18 Jan 2010 1:24 pm
Did you really think that Virgin Money was going to be any different? With the number of regulations with which the banks need to comply I think any deviation from the norm will be minor but just watch the marketing machine tell you something completely different
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Nigel Firth | 18 Jan 2010 1:29 pm
Not really surprising that Virgin will appoint people with experience. When all said and done a product is a product and it's hard to differentiate. What will make a difference is the service they offer and that will be typically Virgin. On that basis they already have an advantage before the doors open.
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Chris Glen | 18 Jan 2010 1:37 pm
Doesn't surprise me that Richard Branson recruits the ex directors of the banks that went bust.
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Scott Mowbray | 18 Jan 2010 2:58 pm
It is important to recruit people with appropriate retail banking experience. Our aim is to make ‘everyone better off’ in the way we do business by offering good value to customers, treating employees well, making a positive contribution to society and delivering a growing profit to shareholders.
Our approach to banking will be founded on developing a sustainable, savings-based business focused on serving customers. A Virgin Money bank will be well capitalised (initial Tier 1 ratio in excess of 35%) and liquidity management will also reflect best practice and focus on the controlled growth of retail deposits.
People with in-depth retail banking experience combined with the Virgin culture and way we do business will be the key to our future success.
Scott Mowbray, Virgin Money
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John Whipple | 18 Jan 2010 4:13 pm
As they say - they have no choice but to employ experienced people. I suspect that trip to China was not a wasted journey.
It could be good to have a new competitive bank or two.
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Anonymous | 18 Jan 2010 4:48 pm
absolutely disgraceful that a finance director from a virtually bust bank can now be appointed again as finance director of a new banking venture.
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christopher simon | 18 Jan 2010 5:31 pm
Well here's one person who wont be joining Virgin Money, if thsi RBS guy was so experienced why didnt he see what was coming at RBS, and the head of savings of Bradford & Bingley ( oh yes now part of Santander becausethey cocked up. sounds like the same old merry go round
Its getting as bad as being a football manager totally screw up and get relagted and move onto the next club. Unbelieveable !!!!
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Anonymous | 19 Jan 2010 9:58 am
Unbelievable, you couldn't make this up! The rewards of failure are... the chance to fail again! Happy days.
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Anonymous | 19 Jan 2010 11:13 am
It is important to recruit people with appropriate retail banking experience
Says it all really doesn't it. Can we ever be led to believe that these people are 'appropriate' for a shiny new venture with lots of capital given what they managed to do with their last lot?
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