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The company was initially established as a personal finance company under the name of Virgin Direct in 1995, and the Virgin Money brand itself was introduced in 2000. Virgin Money vastly increased its size and customer base in 2012 with the purchase of the so-called 'good bank' portion of the nationalised Northern Rock bank.
Amazon logo The Amazon Spheres, part of the Amazon headquarters campus in Seattle. Amazon.com, Inc. is an American conglomerate headquartered in Seattle, Washington.Founded by Jeff Bezos on July 5, 1994, as an online bookstore, Amazon went public after an initial public offering on May 15, 1997, during the midst of the dot-com bubble. [1]
Virgin Money may refer to: Virgin Money (brand), a financial services brand owned by Virgin Group; Virgin Money UK, a British banking and financial services company; Virgin Money Australia, an Australian banking and financial services company owned by the Bank of Queensland; Virgin Money US, a former US loans company
Virgin Money was later bought by Clydesdale and Yorkshire Bank Group (CYBG) in 2018 for £1.7 billion ($2.68 billion). CYBG paid Virgin and Branson a royalty fee to continue using the brand’s name.
Under an obscure license exit fee, founder Richard Branson was expected to pocket $320 million so Nationwide could continue to use the Virgin Money name for brand purposes until late 2028. This ...
Gormley was in private equity for seven years before going to work for Richard Branson in 1994. Branson brought him to Virgin to identify new business opportunities. [2]When he spotted financial services as a potential area for Virgin to explore, Branson asked Gormley to run it, and Virgin Direct (now Virgin Money) was born in 1995 with Gormley as CEO.
A branch of the Northern Rock with Virgin Money branding on Briggate in Leeds. On 13 October 2007, Sir Richard Branson announced that Virgin Group were putting together a consortium of financiers to propose to plough millions into the troubled Northern Rock bank and in return take an approximate 30% stake in the business, bringing the current financial products offered by Virgin and combining ...
Nationwide has gained £2.3 billion following its acquisition of Virgin Money, according to the firm’s half-year results. The building society completed its £2.9bn takeover of Virgin Money in ...