CYBG plc, the UK’s sixth largest bank, has appointed Dave Pickering to its Group Risk function as its new head of integration and transformation risk oversight. Pickering will now be responsible for the risk oversight of the programme designed to successfully integrate and transform Virgin Money, working closely with the Group’s Board and leadership teams on its risk management framework.
Pickering was previously CEO of the Lending Standards Board (LSB) where he led the transformation of the organisation, establishing self-regulation and standards to complement statutory regulation in enabling firms to deliver good customer outcomes. This included agreeing with the Financial Conduct Authority (FCA) for the LSB to be the oversight body for the FCA’s credit card market study information remedies, as well as strengthening the LSB’s role in the wider industry, including through the access to banking standard.
Pickering has worked in financial services for 30 years, including at the Nationwide Building Society where he was a member of the Group Risk senior management team with responsibility for leading the Compliance Review team.
Mark Thundercliffe, Group Chief Risk Officer at CYBG, commented: “The successful and smooth integration of CYBG and Virgin Money is key focus for the business. Dave is a very strong addition to our team and his extensive experience of stakeholder management, coupled with senior roles in internal audit, risk management and compliance are particularly impressive.”
Pickering himself added: “It’s a hugely exciting time for CYBG and Virgin Money and I’m looking forward to joining the team as it continues its transformation into a Group that will positively disrupt and challenge the market. I believe my 30 years of experience in financial services will bring a fresh perspective as we move forward.”
Operating under the Clydesdale Bank, Yorkshire Bank, B and Virgin Money brands, CYBG plc is the only bank outside the ‘Big 5’ that boasts a genuine full-service retail and SME capability.