Former Virgin Money boss Jayne-Anne Gadhia preferred candidate for FRC chair

(Sharecast News) - The government announced on Monday that it has selected former Virgin Money boss Jayne-Anne Gadhia as its preferred candidate for chair of the Financial Reporting Council, succeeding Jan du Plessis, who is due to step down at the end of September. A chartered accountant by training, Gadhia built her career across insurance, retail banking and fintech, most notably as CEO of Virgin Money from 2007 to 2018, where she led the acquisition of Northern Rock and the subsequent listing of the combined business. More recently she has been a founder and innovator in the fintech sector, the government said.

Gadhia's appointment comes at a significant moment for the FRC as the organisation has undergone substantial transformation under outgoing chair Jan du Plessis - "improving audit quality, strengthening corporate governance and reporting standards, reforming its supervision and enforcement processes and establishing itself as a more focused, transparent and proportionate regulator".

Gadhia currently serves as chair of Moneyfarm, OVO and Shakespeare's Globe, lead non-executive director at HMRC, senior independent director at the Tate, director at PRA Group and Innovo Group and an advisor to SumUp.

Business Secretary Peter Kyle said: "Dame Jayne-Anne Gadhia has a proven track record in driving growth and championing high standards in the organisations she leads, along with exceptional experience in financial services.

"She is perfectly placed to lead the FRC at this important time and I look forward to working with her to boost confidence in British businesses."