Virgin Money has announced that its chief financial officer (CFO), Clifford Abrahams, is to step down from the position.

Abrahams has informed the company’s board that he will be leaving Virgin Money to pursue a new opportunity at another organisation.

Current head of FP&A and capital management at Virgin Money, Gergely Zaborszky, is to replace Abrahams in the role of CFO and will become an executive director, subject to regulatory approval.

Abrahams will remain with Virgin Money as CFO until 15 December to ensure a smooth transition.

Board chair, David Bennett, said: “In his time at Virgin Money, Clifford has been instrumental in driving strategic change at the organisation and has brought discipline and focus to the finance function.

“He has been a great colleague and on behalf of the board I wish him well for the future. I’m pleased that we have identified such a strong successor and look forward to working with Gergely as the business moves to its next phase of development.”

---