Since its launch in 1995 Virgin Money, then called Virgin Direct, has added credit cards, ISAs, pensions, loans, mortgages and insurance to its original Personal Equity Plan (PEP). It now claims to have over 200,000 PEP and ISA investors, and to have secured 7% of the UK’s emerging stakeholder pension market. The company, which is a joint venture between Sir Richard Branson and Australian financial services company AMP, claims to have over 500,000 customers and has recently launched a Virgin credit card. Virgin Money reported sales of £425m in 2000 and operating losses of £7m, when it had 479 staff.
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