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Virgin Finance: Sir Richard Brandson’s pursuit of a significant presence in retail financial services

Authors
Disciplines
  • Education
  • Musicology

Abstract

This teaching case study tells of the foundation and growth of the Virgin Group over the forty years to 2010. The creation of over 300 business interests in parts as far afield as the UK, South Africa, Australia and the USA resulted from a unique management style. Branson and the Virgin brand often associate with music (such as records and music stores) and travel (airlines, trains and booked holidays) but between August 2007 and February 2008 they were involved in a failed takeover of Northern Rock, a collapsed British bank. However, as this case study details, the Northern Rock affair was one of a long series of steps dating to the 1980s through which Branson and Virgin have been developing capabilities to enter the British retail banking sector.

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