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Virgin Money appoints RBS, HBOS and B&B executives

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.



Towry Law apology

In articles entitled “How not to handle the trail question” and “Where’s the service for the trail cash” published in the issues of Money Marketing on 26 November and 3 December we wrongly stated that by accepting trail payments from providers, Towry Law were required under pre-existing contractual obligations to provide ongoing advice to clients […]


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There are 11 comments at the moment, we would love to hear your opinion too.

  1. So much for the ‘blue sky thinking’ which I assumed was what they were all about!!

  2. 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

  3. 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.

  4. Doesn’t surprise me that Richard Branson recruits the ex directors of the banks that went bust.

  5. 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

  6. 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.

  7. absolutely disgraceful that a finance director from a virtually bust bank can now be appointed again as finance director of a new banking venture.

  8. christopher simon 18th January 2010 at 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 !!!!

  9. Unbelievable, you couldn’t make this up! The rewards of failure are… the chance to fail again! Happy days.

  10. Victoria Mitchell 19th January 2010 at 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?

  11. Doesn’t seem to be ‘on brand’ for Virgin does it? Does this matter for Virgin Money customers? It stops me from becoming one – same old, same old. From Virgin I’d have hoped for something and someone different.

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