Dame Jayne-Anne shuns Bank role after Salesforce appointment
The former Virgin Money boss has withdrawn her appointment at the Financial Policy Committee ahead of her October 1 move to join Salesforce.
Former Virgin Money boss Dame Jayne-Anne Gadhia will not take up her post on the Bank of England’s Financial Policy Committee after being appointed to head up Salesforce in the UK and Ireland.
Dame Jayne-Anne had been due to become an external member on the Bank’s respected Financial Policy Committee (FPC), which monitors the stability of Britain’s financial system, in April next year.
But her move to join US software giant Salesforce as chief executive of its growing UK and Ireland business meant she would not be able to commit the necessary time required to serve on the FPC.
I’ve admired Salesforce from afar for a long time. Dame Jayne-Anne Gadhia
The Treasury has now launched a new search to fill the FPC vacancy, though Martin Taylor will continue in his role on the committee until April 2020.
A Bank of England spokesman said: “We are of course sorry that Jayne-Anne Gadhia won’t be taking up her role as an external member on the Financial Policy Committee.
“We fully understand her decision and wish her well for the future.”
Salesforce confirmed Dame Jayne-Anne’s appointment on Tuesday, adding she will start in the post on October 1.
The US technology group – which offers customer relationship management (CRM) software – said she will lead the UK and Ireland arm through its “next stage of growth” after pledging to invest 2.5 billion US dollars (£2.1 billion) in the division over the next five years.
Dame Jayne-Anne said: “I’ve admired Salesforce from afar for a long time.
“This is a different kind of business, with deeply held values and a true focus on transforming the experience of every customer through cutting edge technology.”
Dame Jayne-Anne, who was recognised in the 2019 New Year’s Honours list for her contribution to financial services and women in the finance industry, led Virgin Money from 2007 until 2018 when it was acquired by Clydesdale Bank owner CYBG.
She also recently founded fintech start-up Snoop and was appointed as the Government’s Women in Finance Champion in 2016 and a founder member of its Business Diversity and Inclusion Group in 2017.
Keith Block, co-chief executive of Salesforce, said. “The UK and Ireland is our largest market outside the US and with Jayne-Anne’s leadership we are well positioned to move into the next stage of growth and success for Salesforce, our customers, partners and communities.”