Virgin Money confirms new chairman talks with Irene Dorner

Virgin Money said it’s in advanced discussions with Irene Dorner to potentially appoint her as the company’s chairman. The confirmation follows media speculation of Dorner’s possible appointment.

A further announcement will come once any appointment is made, Virgin Money said.

Virgin has been looking for a new chairman since July when Glen Moreno said he planned to retire. She would work with Jayne-Anne Gadhia, Virgin’s chief executive.

Irene Dorner worked at HSBC for 32 years before retiring in 2014. She ran the bank’s US business from 2011 and appeared before Congress in 2012 to apologise for HSBC’s involvement in money laundering in Mexico, Iran and Syria. That activity happened before she took over.

Her appointment at Virgin would give the bank the only all-female leadership team in the FTSE 350 as well as the first at the top of British banking.

Virgin Money plc is a UK-based bank and financial services company owned by the Virgin Group and founded by Sir Richard Branson in March 1995. It was originally known as Virgin Direct, and pioneered index tracking by launching a value Personal Equity Plan into the market.

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