Jim Pettigrew announces retirement from Virgin Money
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Jim Pettigrew
Clydesdale Bank owner Virgin Money has begun its search for a new chairman after Dundee-born financial services veteran Jim Pettigrew announced his plans to retire by September 2021.
The Glasgow-based group said that the board has initiated a search process to allow time to identify his successor and enable an orderly handover.
Virgin Money said that the move was in line with the board’s succession plan and good corporate governance practice.
By the time of his retirement in 2021, Mr Pettigrew will have served nine years on the company’s board.
Mr Pettigrew joined CYBG group in September 2021 and became chairman of the company in 2014. He was formerly chief executive at CMC Markets, chief operating officer at Ashmore Group, group finance director at ICAP PLC and deputy group finance director at Sedgwick Group. Mr Pettigrew was also previously president of the Institute of Chartered Accountants of Scotland and a former chairman of Scottish Financial Enterprise.
In October 2018, CYBG completed the takeover of Virgin Money in a deal worth £1.7bn and CYBG said today that both Clydesdale and Yorkshire banks will now be re-branded as they assume the name of Virgin Money across its operations.
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