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To report this problem, contact Customer Service at mailto:onlinejournal@wsj.com . You may use the "Back" button in your browser to return to the previous page, click Home to return to the WSJ.com home page, or access the Site Map. The document you requested either no longer exists or is not currently available. 2nd UPDATE: Virgin Money Moves Into UK Retail Banking - WSJ.com http://online.wsj.com/article/BT-CO-20100108-709642.html?mod=WSJ_latestheadlines

http://234next.com/csp/cms/sites/Next/Money/Business/5509190-147/story.csp# Virgin Money, part of Richard Branson's Virgin empire, took big strides on Friday towards becoming a major British retail bank, able to compete in a battered sector. Virgin Money said it had agreed to buy regional private bank, Church House Trust for £12.28 million (13.7 million euros, $19.6 million). It plans to use the lender as a platform to offer savings and mortgage products to customers under the Virgin Money brand, which is known for its popular credit card and insurance offerings. The purchase is also seen as providing a platform for Virgin Money to buy an even bigger bank, providing true competition to Britain's biggest retail lenders. "The Church House Trust business offers us a strong platform for growth," Branson said in a statement announcing the deal. Virgin steps up bid to become major British bank

Virgin Money has made its much-anticipated move into the retail banking sector by taking over a small private bank. The £50m deal to buy Church House Trust was announced to the City this morning. It is a key part of Sir Richard Branson's attempt to challenge the UK's major high street banks , and comes two years after Virgin failed to win control of Northern Rock . Branson aims to bring 'simplicity' to the UK banking sector. Photograph: David Levene "Virgin Money aims to bring simplicity to the UK banking market, which has traditionally been a complex sector," said Branson, who believes the move gives Virgin "a strong platform for growth". http://www.guardian.co.uk/business/2010/jan/08/virgin-money-retail-banking-branson Virgin Money moves into retail banking | Business | guardian.co.

Virgin May Buy More Banking Assets After Church House Purchase -

The buy-out house is among several firms that Virgin has talked to as it works on finding a partner for its financial services business in preparation for its move on Northern Rock's "good bank" spun out of the state-owned lender and thought to be worth up to £2bn. Last week, Virgin bought the little-known Church House Trust bank, which has 3,000 customers and no branches, for £12.3m. The acquisition gave Virgin a full banking licence as CHT already has systems and processes approved by the Financial Services Authority that enable it to offer mortgages and current accounts. Its talks with Blackstone underline Sir Richard's ambition to break into the UK mortgages and savings market and could lay the foundation for the first private equity-backed UK bank. http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/6963157/Sir-Richard-Branson-taps-Blackstone-for-assault-on-Northern-Rock.html Sir Richard Branson taps Blackstone for assault on Northern Rock

“Our approach to banking will be founded on developing a sustainable, well capitalised and prudently managed retail bank with an absolute focus on serving customers. With their skills, knowledge and banking experience they will be invaluable additions to the Virgin Money management team”. Virgin Money has made an offer for Church House Trust a regional private bank. If accepted by Church House Trust shareholders the acquisition will A spokesman for Virgin Money, says: “I am delighted to welcome Finlay, Ian and Marcus to Virgin Money. provide the platform from which savings and mortgage products will be offered to consumers under the Virgin Money brand. http://www.mortgagestrategy.co.uk/lendingzone/virgin-money-appoints-rbs-bb-and-lloyds-directors/1005124.article Virgin Money appoints RBS, B&B and Lloyds directors | News | Mor

Virgin Money CEO says eyeing UK banking assets | Reuters http://www.reuters.com/article/2010/02/25/virginmoney-idUSLDE61O1S520100225 Virgin Money entered Britain's retail banking market earlier this year after agreeing to buy a small provincial bank, Church House Trust, in a 50 million pounds ($77 million) deal. [ID:nLDE607090] It had applied for a banking licence in October. [ID:nLN403567] (Reporting by Myles Neligan ; Writing by Lorraine Turner ) ($1 = 0.6521 pound)