Write off Richard Branson at your peril!
Many in the financial press have been disrespectful of Richard Branson's move into the UK banking sector with the acquisition of Church House Trust but those who write off Richard Branson do so at their own peril!
It is noticeable that despite the fact the Church House Trust deal has now been announced we have seen little in the way of detail from Virgin Money since the deal. However, over the days and weeks ahead we can expect a constant flurry of news reports and news headlines with regards to future strategies and future services. Despite all the talk of acquiring Northern Rock, it seems that Richard Branson has opted to go for a "clean bank" which he can manipulate and shape into exactly what he wants for the future.
If you take a step back and consider the situation in more detail, perhaps Richard Branson has the right idea rather than taking on a company the size of Northern Rock with its many skeletons in the cupboard and mortgage arrears. Time will tell whether this has been the correct move but there is no doubt that Richard Branson has done his homework and he will have massive expansion plans in place for his new acquisition.
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