Virgin Money appoints new CEO

The group announced today that Greg Boyle has been appointed as the company’s new CEO.

Mr Boyle has held a number of senior executive roles at VMA over the last six years, including general manager commercial and strategy director.

Prior to joining VMA, Mr Boyle spent five years with the Virgin Group where he helped oversee its global portfolio of companies, with a particular focus on financial services.

Mr Boyle’s appointment follows a restructure at parent company BOQ, which saw VMA brought into its retail banking business headed by group executive Matt Baxby.

Mr Baxby was himself CEO at VMA for three years before joining BOQ in 2012.

Mr Baxby said Mr Boyle’s experience would help VMA take the next step in its development.

“Virgin Money is a globally recognised brand that attracts unique customer segments compared to many traditional finance firms, and this presents an enormous opportunity in Australia.

“Greg has distinctive industry and company knowledge and skills that will be invaluable in leading Virgin Money to its next stage of growth,” Mr Baxby said.

Mr Boyle said he looked forward to the challenge of the new role and delivering some of the key initiatives planned for the next 12 months.

“I’m excited about the opportunities available to us as we look to capitalise on Virgin Money’s potential, including developing a broader and deeper customer base with new products and partnerships.

“Our targets within the next 12 months include offering Virgin Money-branded mortgages and revamping our superannuation offering,” Mr Boyle said.

BOQ acquired exclusive rights to the VMA brand for 40 years in April 2013.