- Virgin Money UK has announced the resignation of group chief financial officer and executive officer Ian Smith, who is set to take up an external overseas opportunity.

The board of Virgin Money has begun a formal process to identify and appoint a successor, with Smith due to remain in his role to support an orderly transition until a date after the group's interim results to be agreed.

Group chief executive David Duffy said: 'Ian has been our CFO since 2014 and has been a valued member of the Board and my Leadership Team through the separation from National Australia Bank, transformation of CYBG PLC following its IPO, and acquisition of Virgin Money.

'Ian has played an instrumental role in creating the financial strength and discipline that will enable us to continue delivering our ambitious strategy.'

At 9:26am: [LON:VMUK] share price was -1.77p at 176.98p

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