A head for finance

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In business, acquisition – not imitation – is the sincerest form of flattery. Which means Jayne-Anne Gadhia must have been doing something right. At the time of writing, Clydesdale Bank and Yorkshire Bank (CYBG) had agreed to pay £1.7bn to buy Virgin Money, the FTSE 250 bank she runs. 

Flattery, because Virgin Money really only got going in 2011, with its own acquisition of troubled building society Northern Rock. Since then, it has delivered some stellar results – culminating, in February, with an increase in underlying pre-tax profit of 28%, to £273m. So, is Gadhia that rarest of beasts, a popular banker? 

“I never think of myself as a banker, ” she says, notwithstanding her autobiography’s title, The Virgin Banker. “My career hasn’t been that planned; it’s more a series of accidents.”

CYBG and Virgin are often classified as ‘challenger banks’ – an awkward catch-all term for institutions outside the big incumbents, such as Barclays and HSBC. ...