Dame Jayne-Anne Gadhia, former chief executive of Virgin Money, is poised to take a leading role over corporate government by becoming chair of the Financial Reporting Council (FRC) for the next four years.
The FRC regulates auditors, accountants and actuaries, and sets the UK’s Corporate Governance and Stewardship Codes.
It promotes transparency and integrity in business and aims its work at investors and others who rely on company reports, audit and high-quality risk management.
Dame Jayne-Anne is a prominent figure in the financial services sector. She trained in accountancy with Ernst & Young and spent six years at Norwich Union (now Aviva) before becoming one of the founders of Virgin Direct in 1995.
Three years later, she set up the Virgin One account, which was acquired by the Royal Bank of Scotland in 2001. After five years at RBS she returned to Virgin as CEO of Virgin Money in 2007 until its sale in 2018.
She later founded and chaired the fintech company Snoop and has a track record of championing diversity in the financial services sector.
She was appointed a Dame in the 2019 New Year Honours.
Business Secretary Peter Kyle will confirm her appointment to the FRC post once she has been approved by the Business and Trade Select Committee.
Mr 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.”
Dame Jayne-Anne said: “I am honoured to be appointed chair of the FRC at such an important time for the organisation and for the UK economy.
“Strong corporate governance, high-quality reporting and trusted audit are not abstract regulatory goals — they are the foundations on which businesses grow, investors commit capital and public confidence is maintained.
“The FRC has done impressive work in recent years to raise standards and modernise how it regulates.”
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