Chief financial officer resigns at Virgin Money UK

Ian Smith has today informed the Board of Virgin Money UK that he is resigning as group chief financial officer (CFO) and executive director to take up an external overseas opportunity.

The Board has begun a formal process to identify and appoint a successor to Smith. He will remain in his role to support an orderly transition until a date after the Group’s interim results to be agreed.

David Duffy, group chief executive officer, said: “Ian has been our CFO since 2014 and has been a valued member of the Board and my leadership team through the separation from National Australia Bank, transformation of CYBG PLC following its IPO, and acquisition of Virgin Money.

“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 said: “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.

“I am pleased to leave the Group well progressed through the integration programme and on track to deliver all of the targets that were set out at the Capital Markets Day. I look forward to seeing Virgin Money continue to prosper, delivering unique and exciting propositions for customers and creating value for shareholders.”