WHERE NEXT FOR GADHIA?

VIRGIN Money’s boss will step down from its board – but walks away with shares worth £12.5m.

Jayne-Anne Gadhia, 56, will swap her 3.4m shares in Virgin Money for stock in the new business.

Gadhia will stay on temporarily as a consultant during the merger but as the City’s most senior woman in banking, the mother-of-one is sure to face questions about what she could do next.

One option might be TSB, where boss Paul Pester is under pressure. There will also be talk of a move to Lloyds or RBS.