Mr Pitman was chairman of Lloyds TSB Group from 1997 until his retirement in 2001. In November 2009 he was appointed by the Financial Services Authority as one of five advisors assisting the regulator on a framework for ensuring effective governance in financial institutions.
Further, Norman McLuskie and Colin Keogh were named as non executive directors of the board. Mr McLuskie served for more than 20 years at RBS, retiring in 2004. He was deputy CEO of RBS prior to the takeover of NatWest. He then led RBS’s retail direct division comprising the non-RBS branded businesses (including Tesco Personal Finance) during periods of significant growth.
Mr Keogh served at Close Brothers for 25 years and was group CEO from 2002-2009. He managed significant changes to the business including the introduction of a new senior management team and the acquisition and integration of a number of new businesses.
The three new non-executive directors together with Gordon McCallum and Patrick McCall, the existing directors appointed by the Virgin Group, will provide direction to the Virgin Money executive team that comprises Jayne-Anne Gadhia, CEO; Finlay Williamson, CFO; Marian Watson, chief risk officer; Roland Russell, COO; Paul Lloyd, CMO; Ian Cornelius, bank director; Marcus Ezekiel, commercial director and David Dyer, corporate development director.
Mr Pitman said: “I am impressed with the Virgin Money business and I am looking forward to working with Jayne-Anne Gadhia and her team. Church House Trust provides Virgin Money with the ideal platform to make a significant impact in the UK banking market. Our bank will be well capitalised and managed prudently with a strong focus on serving customers. It will see a much needed return of old fashioned banking principles.”
Jayne-Anne Gadhia, CEO of Virgin Money, said: “The completion of the Church House Trust deal and the appointments of Sir Brian Pitman, Norman McLuskie and Colin Keogh are significant milestones for Virgin Money. The demonstrable skill and experience of the Executive Team and Board makes us certain we can make a positive difference in UK banking.”
Richard Branson, founder of Virgin Group, said: “I am delighted to announce Sir Brian Pitman’s appointment to the board of Virgin Money. Sir Brian is one of the most UK’s most influential bankers and will be a great asset to the Virgin Money business.”
