(Reuters) - Virgin Money (LON:VM) UK Plc (L:VMUK) said on Thursday Chief Financial Officer Ian Smith will resign, at a time when the lender is going through a rebranding exercise to take on bigger and more conventional British banks.
Smith led the company through the Virgin Money-CYBG merger in 2018 that catapulted it to the sixth spot among British lenders.
It has since counted on rebranding and the high-profile brand of Richard Branson's Virgin empire to challenge larger rivals such as Lloyds (L:LLOY).
The owner of Clydesdale and Yorkshire banks said Smith, who took over as the finance head in 2014, will remain in his role to support an orderly transition until after the company's interim results. (https://reut.rs/2GMsRnv)
"While it was a very difficult decision, I have been given a great opportunity to build the next stage of my career overseas," Smith said in a statement.
The company this week reported a bulkier business loan book for the first quarter as sentiment improved after Prime Minister Boris Johnson won a parliamentary majority in December.
But Virgin Money UK still warned that the banking industry faced uncertainty over the terms on which Britain will trade with the European Union after Brexit. (https://reut.rs/2GCCvJg)