logo-loader

Virgin Money close to all-female leadership team as bank confirms “advanced discussions” with new potential chair

Published: 09:35 25 Oct 2017 BST

virgin money
Dormer retired from her career at HSBC in 2014 after 32 years with the bank

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.

READ: Virgin Money shares gain as it reports growth in third quarter mortgage and credit card lending

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.

READ: Virgin Money boss warns on threat of cheap loans to mark anniversary of Northern Rock collapse

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.

Oriole Resources outlines 2023 achievements and future exploration plans

Oriole Resources PLC (AIM:ORR) CEO Tim Livesey and chief financial officer Bob Smeeton join Proactive's Stephen Gunnion with details of the company's 2023 financial and operational performance. Livesey highlighted successful exploration programs in Cameroon, at the Bibemi and Mbe projects,...

2 hours, 56 minutes ago