Clifford Abrahams signs on as new Virgin Money CFO
Virgin Money announced on Tuesday that it has appointed Clifford Abrahams as an executive director and its group chief financial officer.
The FTSE 250 banking group said it expected Abrahams to join the group in March, subject to regulatory approval.
He would succeed Enda Johnson, who was currently interim group CFO, allowing for a “smooth transition” and handover of responsibilities.
“We are very pleased to appoint Clifford to the board as our new CFO, following an extensive search process,” said chairman David Bennett.
“Clifford is a highly experienced financial services CFO and brings a wealth of expertise to the group to support us in delivering our strategy.”
Abrahams is currently group CFO at ABN AMRO Bank, having been in that role since 2017.
Before that, he was group CFO at the Dutch insurer Delta Lloyd, held several senior finance roles at Aviva, and spent the early part of his career in investment banking within the financial institutions group at Morgan Stanley.
“Clifford has a proven track record as a CFO of publicly listed financial services companies and will be a strong addition to our leadership team,” said chief executive officer David Duffy.
“Clifford's deep experience and financial services knowledge will be of great benefit as we navigate an uncertain economic environment and ultimately deliver on our ambition to disrupt the status quo in UK banking.”
As an executive director, the board said Abrahams’ remuneration would be set in line with its published executive remuneration policy.
Clifford Abrahams said he was “delighted” to have been appointed as CFO.
“It is an exciting company with strong foundations and unique opportunities to disrupt the UK banking industry, and I very much look forward to getting started next year.”
At 0840 GMT, shares in Virgin Money UK were down 4.37% at 135.75p.