Banking

Virgin Money loses another member of its executive team

Virgin Money loses another member of its executive team with Helen Page, chief brand officer, quitting the bank


Virgin Money has lost another member of its executive team. 

The Mail on Sunday understands that Helen Page, chief brand officer, is leaving the challenger bank. 

Her departure follows a string of exits by senior figures this year, including the director of business banking. 

Signing off: A source said the lender, which has just completed a rebrand, is ‘refocusing’ its leadership team, which has nearly halved this year

A source said the Newcastle-based lender, which has just completed a rebrand, is ‘refocusing’ its leadership team, which has nearly halved this year. 

The bank last week announced it is closing 31 branches, incurring a £25million restructuring cost, and leaving it with 131 across the UK. The bank said the pandemic accelerated customers’ use of digital banking. 

Some 112 staff will be made redundant. 

Since Clydesdale and Yorkshire Banking Group bought Virgin Money in 2018 and adopted its name, its share price has dropped by nearly a third from £2.70 to £1.96.

It is now focusing more on digital services. Virgin Money declined to comment.

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