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Virgin Money loses another member of the executive team

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Virgin Money loses another member of the executive team as chief brand officer Helen Page leaves the bank










Virgin Money has lost another member of the 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 this year by senior figures, including the director of business banking.

Sign 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 lender, which has just completed a rebrand, is “refocusing” its leadership team, which has nearly halved this year.

The bank announced last week that it will close 31 branches, incurring £25m in restructuring costs, with 131 remaining in the UK. The bank said the pandemic has accelerated customers’ use of digital banking.

About 112 employees are laid off.

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

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

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