Clydesdale owner names new chairman
Clydesdale Bank owner Virgin Money has hired former Alliance & Leicester boss David Bennett as its next chairman.
The group said it was “pleased” to appoint 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, which is due to release its interim results this week, said Bennett will take over the role tomorrow, while 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.
“I look forward to working with David as we support our customers, colleagues and communities through the current situation and in time return to executing our strategy and our ambition to disrupt the status quo. I would like to thank Jim for his tremendous leadership of the board and stewardship of the business and for the support he has provided to me, the board and executive team during that time.”
Bennett added: “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.”
The group is gradually phasing out the Clydesdale brand.