Virgin Money UK PLC Appointment of Permanent CFO (5520F)
17 November 2020 - 8:08AM
UK Regulatory
TIDMVMUK TIDM91XR
RNS Number : 5520F
Virgin Money UK PLC
17 November 2020
VIRGIN MONEY UK PLC
(Company or Virgin Money UK)
LEI: 213800ZK9VGCYYR6O495
17 November 2020
Virgin Money UK appoints Clifford Abrahams as Group Chief
Financial Officer
Virgin Money UK announces that it has appointed Clifford
Abrahams as Executive Director and Group Chief Financial Officer
(CFO). It is expected that Clifford will join the Group in March
2021, subject to regulatory approval. Clifford will succeed Enda
Johnson, who is currently Interim Group CFO, allowing for a smooth
transition and comprehensive handover of responsibilities.
Clifford is currently Group CFO at ABN AMRO Bank having been in
that role since 2017, prior to which he was Group CFO at the Dutch
insurer Delta Lloyd, held several senior finance roles at Aviva and
spent the early part of his career in investment banking within the
Financial Institutions Group at Morgan Stanley.
David Bennett, Group Chairman, said: "We are very pleased to
appoint Clifford to the Board as our new CFO, following an
extensive search process. Clifford is a highly experienced
financial services CFO and brings a wealth of expertise to the
Group to support us in delivering our strategy."
David Duffy, Chief Executive Officer, said: "Clifford has a
proven track record as a CFO of publicly listed financial services
companies and will be a strong addition to our leadership team.
Clifford's deep experience and financial services knowledge will be
of great benefit as we navigate an uncertain economic environment
and ultimately deliver on our ambition to disrupt the status quo in
UK banking. I would also like to thank Enda Johnson for his strong
stewardship as our Interim Group CFO during what is a uniquely
challenging time."
Clifford Abrahams said: "I am delighted to have been appointed
as CFO of Virgin Money UK. It is an exciting company with strong
foundations and unique opportunities to disrupt the UK banking
industry, and I very much look forward to getting started next
year."
As an Executive Director Clifford's remuneration will be set in
accordance with our published executive remuneration policy.
Information required under LR 9.6.13R
Clifford Abrahams is a member of the Executive Board of ABN AMRO
Bank NV and was previously a member of the Executive Board of Delta
Lloyd NV from January 2016 until August 2017.
There are no other matters requiring disclosure under Listing
Rule 9.6.13R.
Biographical information
Clifford Abrahams is currently Group CFO at ABN AMRO Bank having
joined in that role in 2017. Prior to that Clifford was Group CFO
at the Dutch insurer Delta Lloyd Group, prior to which he spent 10
years at Aviva in several senior finance roles including CFO of
Aviva Investors, CFO of UK & Ireland Life Insurance and CFO of
UK & Ireland General Insurance. In the early part of his career
Clifford spent 12 years at Morgan Stanley in the Financial
Institutions Group (FIG) most latterly as Managing Director.
Clifford holds both an MBA from Wharton Business School and an MA
in Economics from Cambridge University.
Announcement authorised for release by Lorna McMillan, Group
Company Secretary.
For further information, please contact:
Investors and Analysts
Andrew Downey 07823 443 150
------------------------------------
Head of Investor Relations andrew.downey@virginmoneyukplc.com
------------------------------------
Company Secretary
------------------------------------
Lorna McMillan 07834 585 436
------------------------------------
Group Company Secretary lorna.mcmillan@virginmoneyukplc.com
------------------------------------
Media Relations
------------------------------------
Press Office 0800 066 5998
------------------------------------
press.office@virginmoneyukplc.com
------------------------------------
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END
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