September 18, 2014 4:48 AM ET

Banks

Company Overview of Virgin Money Holdings (UK) plc

Company Overview

Virgin Money Holdings (UK) plc provides a range of retail banking services worldwide. It offers savings accounts, including easy access, fixed term, cash ISA, charity, business, and children’s accounts; residential and buy-to-let mortgages; credit and prepaid cards; travel, home, motor, and pet insurance; and investments comprising stocks and shares ISAs, unit trusts, personal pensions, pension annuities, and financial planning services. The company operates a network of 75 stores and 3 lounges. It distributes its products through online, post and telephone, and corporate partners. The company was formerly known as Virgin Money Group Limited and changed its name to Virgin Money Holdings (UK)...

Discovery House

Whiting Road

Norwich,  NR4 6EJ

United Kingdom

Founded in 1995

Key Executives for Virgin Money Holdings (UK) plc

Chief Executive Officer
Chief Financial Officer
Chief Operating Officer
Chief Risk Officer
General Counsel and Company Secretary
Compensation as of Fiscal Year 2014.

Virgin Money Holdings (UK) plc Key Developments

Virgin Money Reportedly Plans IPO

Virgin Money Holdings (UK) plc is planning an initial public offer (IPO) that could value it up to £2 billion, Sky News reported. Directors of Virgin Money Plc are known to be in talks with advisers about announcing an intention to float, possibly by early October 2014. People close to the company said a final decision on the timing of an IPO will not be taken for several weeks. They added that it is liley that the company could wait until 2015. Virgin Group which holds more than 46.5% of Virgin Money plans to retain as large a shareholding as possible after an IPO, the report added. WL Ross & Co. LLC also seeks to retain the vast majority of its 45% stake of the company, Sky News noted. The listing is being handled by Bank of America Merrill Lynch and Goldman Sachs, the report added.

Virgin Money Doesn't Seeks IPO

Virgin Money Group Limited is not seeking an initial public offering (IPO) now. Jayne-Anne Gadhia, Chief Executive Officer of Virgin Money said, “"We have no specific plans for an IPO at the moment. It remains our long term intention to float the business but we haven't appointed bankers yet.”

Virgin Money Reportedly Seeks IPO

Virgin Money Group Limited planned to launch public offering in 2014. It is understood that Richard Branson's banking arm is appointing a former Deutsche Bank executive as part of a move to strengthen its board ahead of a medium-term stock market listing. Richard is targeting a stock market listing of the bank within a couple of years, although a firm date has not yet been decided.

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