Virgin Money announced today that Clifford Abrahams, Chief Financial Officer (CFO), has informed the Board of his decision to step down from his position.

Mr Abrahams will be leaving the company to pursue a new opportunity at another organisation.

Clifford Abrahams will remain with the Company as CFO and an Executive Director of the Company and of Clydesdale Bank PLC until 15 December 2024, ensuring a smooth transition to Gergely Zaborszky, who will become an Executive Director and assume the role of CFO, subject to regulatory approval.

Mr Zaborszky is currently Head of FP&A and Capital Management at Virgin Money. He was previously at GE where he held a number of senior roles, most recently CFO Imaging at GE Healthcare.

David Bennett, Board Chair, said:

“In his time at Virgin Money Clifford has been instrumental in driving strategic change at the organisation and has brought discipline and focus to the finance function. He has been a great colleague and on behalf of the Board I wish him well for the future. I’m pleased that we have identified such a strong successor and look forward to working with Gergely as the business moves to its next phase of development.”