Moneyfarm appoints former Virgin Money CEO as chair

Digital wealth manager Moneyfarm has just brought Snoop founder and executive chair Dame Jayne-Anne Gadhia on board.

The former Virgin Money CEO (from 2007 to 2018) that successfully led the company to IPO joins Moneyfarm as chair and brings a wealth of banking experience.

Having founded a money management fintech and helped transform Virgin Money into one of the UK’s biggest high-street lenders, she brings a wealth of bank executive experience to Moneyfarm.

“Moneyfarm has a clear vision and strategy to deliver this and reminds me very much of my early days at Virgin Money,” Dame Jayne-Anne said.

“It has the same energy, drive and innovative culture, with a diverse client base and business that encourages everyone to take control of their financial future.”

She added that she wants to work with the wealth manager to make investing for the future simple and accessible.

Could Moneyfarm, backed by asset management group M&G Investments, be set to follow Virgin Money’s path and head towards a public offering with the help of the former CEO?

Dame Jayne-Anne is also currently chair of HMRC and a director at UniCredit, sitting on the Mayor of London’s business advisory board and the financial inclusion forum.

She was the UK Government's women in finance champion for five years and now supports the women in finance charter as an advisor.

“I’ve always been impressed by Jayne-Anne’s approach and philosophy to business, and I am confident she will help to support Moneyfarm in its mission to make finance simple and accessible,” Moneyfarm co-founder and CEO Giovanni Daprà said.

“When we were looking for a new Chair, we wanted to appoint someone with significant expertise in the financial services sector that had a proven track record of delivering high levels of corporate governance and stakeholder engagement in a highly regulated and fast-growing industry.”

Daprà described Dame Jayne-Anne as the “perfect fit”.

Moneyfarm bought UK digital pension adviser and consolidator Profile Pensions at the end of last year as it hit £3bn in assets and is set to bring the company another 24,000 customers this year, bringing it to a total of 115,000.