By Razak Musah Baba

LONDON--Newly listed bank Virgin Money Holdings (UK) PLC (VM.LN) has appointed Glen Moreno non-executive director and chairman-designate, to succeed David Clementi who intends to retire following the company's annual general meeting in mid-2015.

The lender, part-owned by entrepreneur Richard Branson's Virgin Group, said Mr. Moreno who is currently chairman of U.K.-based publisher and education specialist Pearson PLC (PSON.LN), will join the Virgin Money board on Jan. 1, following receipt of regulatory approval.

Virgin Money shares at 1040 GMT were up 0.2%, at 289 pence, valuing the company at GBP1.27 billion.

-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet

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