Virgin Money is focused on its digital plan
Virgin Money is cutting a number of executive positions to reduce its cost base and focus on its digital strategy.
Gavin Opperman, Director of Business Banking, will leave office in March if his post disappears.
Lucy Dimes will leave her role as the bank’s Chief Strategy and Transformation Officer along with Kate Guthrie, who has been Head of People at the bank since 2016, the Mail reported on Sunday.
The bank created the positions of Chief Customer Experience Officer and Chief Commercial Officer.
Virgin Money emerged as the brand of choice when it was acquired by CYBG, owners of historic banks Clydesdale and Yorkshire, for £ 1.78 billion in 2018.
The Glasgow-based bank, moving to its new headquarters at 177 Bothwell Street, cut 900 jobs last year and closed more than 56 branches as part of its cost-cutting plans.
Last week the bank announced that personal lending rose 2.5% to £ 5.2 billion, fueled by credit card growth as business picked up while corporate lending fell in the three months ended June 30 Declined 2.4% to £ 8.7bn.
CEO David Duffy said, “We have raised the NIM guidance for the full year and, while COVID continues to have the near-term impact, we have a strong capital position and solid provisions.
“We see great opportunities in the further development of our digital skills in order to offer an improved customer experience and greater efficiency. We are well positioned to grow profitably next year as we do our part to support the UK’s economic recovery. ”
