Virgin Money has hired former Alliance & Leicester boss David Bennett as its next chairman.
The bank, which has a major office in Newcastle, said it was “pleased” to appoint Mr Bennett, who has been deputy chairman and non-executive director of the business since October 2015.
He will replace Jim Pettigrew, who announced his intention to retire as chairman of the banking group in January.
Virgin Money said Mr Bennett will take over the role on Wednesday, while Mr Pettigrew will remain available as an adviser for a transition period.
Virgin Money chief executive David Duffy said: “I am very pleased that someone with David’s extensive banking experience and deep understanding of our business will succeed Jim as chairman.”
Mr Bennett said: “I am delighted to be appointed as Virgin Money UK PLC chairman.
“Having served on the board since 2015 I have seen close hand this business transform markedly and I know we are well placed to navigate through the current environment. I look forward to working with the board and executive team as we continue on our exciting journey ahead.
“I would also like to express my thanks to Jim for his leadership of the board and wish him all the best for the future.”
