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VIRGIN MONEY AUSTRALIA AND CITIBANK ANNOUNCE STRATEGIC ALLIANCE

Sydney, 16 June 2009

Virgin Money Australia and Citibank Australia today announced a Heads of Agreement to deliver a full range of Virgin-branded financial services to the Australian market.

The alliance is being formed to deliver a broad range of retail banking products - the first will be introduced in early 2010 and include credit cards, savings and other retail banking products.

Matt Baxby, Managing Director of Virgin Money Australia, stated: “We are excited about the prospect of working with Citibank to launch a range of banking products that offer great value and the excellent customer service that people expect from Virgin.  We believe we can offer Australian consumers a genuine banking alternative.”

Roy Gori, Chief Executive Officer, Citibank Australia, the consumer banking arm of Citi, said the alliance with Virgin Money would combine Virgin Money’s brand and marketing expertise and Citibank’s banking services. “This promises to be a powerful combination that will benefit Australians,” Mr Gori said.

 

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MEDIA CONTACTS
Virgin
Danielle Keighery - Corporate Communications Director, Virgin Management
Tel: 0400 223 136 or 0437 891 997
 
Citi
Maggie Grady – Head of Corporate Affairs, Citi
Tel: 02 8225 1635
M: 0411407624
Email: maggie.grady@citi.com		 Kristen Kaus – Assistant PR, Citibank
Tel: 02 8225 1632
M: 0421380773
Email: kristen.kaus@citi.com
NOTES TO EDITORS:
 
About Citi
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Additional information may be found at www.citi.com.au
 
About Virgin Money
Virgin Money is the financial services arm of Sir Richard Branson's Virgin Group. With businesses in UK, South Africa, Unites States and Australia we are fast becoming a recognized brand in the financial services sector. Virgin Money products are simple, great value and transparent, and we're backed up by our world-famous Virgin customer service. www.virginmoney.com.au
 
About Virgin Group
Virgin, the leading international investment group, is one of the world's most recognised and respected brands. Conceived in 1970 by Sir Richard Branson, the Virgin Group has gone on to grow very successful businesses in sectors ranging from mobile telephony, to transportation, travel, financial services, music, health clubs and renewable energy. Virgin has created dozens of branded companies worldwide, employing approximately 50,000 people, in 29 countries. Group wide revenues around the world in 2008 exceeded £11bn.