Virgin Money Holdings PLC (LON:VM.) has said it is in “advanced discussions” to bring former HSBC banker Irene Dormer on board as its new chair.
Should the 62-year-old be appointed, it is thought the bank would be the first ever FTSE 350 company to have an all-female leadership team.
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Dormer, who was formerly the president, chief executive and managing director HSBC USA before retiring in 2014, would join chief executive Jayne Anne-Gadhia at the helm of Virgin.
Sky News reported over the weekend that Dormer was in line to replace Glen Moreno – who is retiring next year and returning to his native US – claiming that she would be unveiled within the next few weeks.
CEO Anne-Gadhia is well known for her strong views on gender diversity, particularly in the financial services sector.
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She carried out a government-backed review into the representation of women in the sector published last year, which lead to the Treasury’s Women in Finance Charter.
Virgin shares were down 0.4% to 297.5p on Wednesday morning.