Virgin Money, the banking division of the Virgin Group, has revealed that Sir Brian Pitman will join the Virgin Money Board as chairman, subject to FSA approval.
Also joining the board as non-executive directors are Norman McLuskie and Colin Keogh.
Pitman is senior advisor at Morgan Stanley, senior independent director of Carphone Warehouse Group Plc and chairman of Acturis Limited. He became chief executive of Lloyds Bank in 1983 and was chairman of Lloyds TSB Group from 1997 until his retirement in 2001.
In November 2009 he became one of five advisors assisting the FSA on a framework for ensuring effective governance in financial institutions.
McLuskie served for more than 20 years at The Royal Bank of Scotland Group, retiring in 2004. He was deputy chief executive 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).
Keogh served at Close Brothers for 25 years and was group CEO from 2002- 2009. As chief executive of Close Brothers,
The three new non-execs, together with Gordon McCallum and Patrick McCall, the existing directors appointed by the Virgin Group, will provide direction to the Virgin Money executive, led by CEO Jayne-Anne Gadhia.
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.””
