Virgin Money UK

Nationwide building society will cut 275 roles across its retail division and support functions as part of efforts to simplify operations and remove duplication after its £2.9bn takeover of Virgin Money. The reductions, which follow 600 job losses announced in June, will affect areas including mortgages, HR, the chief operating officer’s office, customer operations, communications and finance, but no customer-facing staff will be at risk. Nationwide said it is supporting those affected through retraining and redeployment and denied the cuts are linked to increased use of AI. » More on theguardian.com

Nationwide is cutting about 600 roles affecting both Nationwide and Virgin Money staff as duplicate back-office positions are removed following the £2.9bn takeover. The lender has opened a consultation with unions and says customer-facing branch roles are not the main focus, while recruiting roughly 270 vacancies that are not reserved for those at risk. The announcement follows earlier rounds of redundancies and comes amid integration plans after the controversial acquisition. » More on theguardian.com

Nationwide has completed the transfer of the Clydesdale Bank (Virgin Money) banking business with effect from 2 April 2026; certain products and contracts are excluded. Chris Rhodes, CEO of Virgin Money, will step down as an executive director on 21 May 2026 and will leave the company entirely in September 2026. Alan Keir will resign as chair of the Board Risk Committee after the annual general meeting on 16 July 2026; Phil Rivett is expected to replace him subject to regulatory approval, and Guy Bainbridge will then take over as chair of the audit committee. » More on de.investing.com