Money

Virgin Money finance chief to quit for international opportunity



Virgin Money chief financial officer Ian Smith is leaving his post to move overseas.

Smith became the bank’s finance boss in 2014 and was involved in separating the lender from National Australia Bank and floating it on the stock market as Clydesdale & Yorkshire Banking Group.

He also helped steer the takeover of Virgin Money, leading to the adoption of the group’s current brand. He will remain in post until after the group’s interim results in May.

Smith grew up in Kenya but was educated at the University of Aberdeen and held positions with accountancy firms Coopers & Lybrand and Deloitte and lenders HBOS and Lloyds Banking Group before joining Clydesdale Bank. During his time with Coopers & Lybrand, he spent two years in Los Angeles, auditing film and television makers.

Chief executive David Duffy said: “Ian has played an instrumental role in creating the financial strength and discipline that will enable us to continue delivering our ambitious strategy. I thank Ian for his hard work and dedication during this period, and I wish him all the very best for the future.”

Smith added: “I have hugely enjoyed the last five years with CYBG and Virgin Money, working with David, the board and all of my colleagues to build a true disruptor to the status quo in UK banking. While it was a very difficult decision, I have been given a great opportunity to build the next stage of my career overseas.”

Virgin Money’s Dundee-born chairman Jim Pettigrew announced last week that he is to step down by September 2021.

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