Virgin Money Sells Investment to Octopus Money
Deal News | Aug 15, 2025 | Addleshaw Goddard
Addleshaw Goddard has successfully advised Virgin Money on the sale of its investment arm to Octopus Money. Ben Koehne, Head of Financial Services Sector at Addleshaw Goddard, led the advisory team, highlighting their collaborative work with the combined Virgin Money and Nationwide team. This strategic disposal aligns with Virgin Money’s focus on reaffirming its core objectives within the banking sector. Virgin Money operates under the Clydesdale Bank plc brand, which, as of October 1, 2024, became a wholly owned subsidiary of Nationwide Building Society, reflecting a significant acquisition and integration strategy.
Sectors
- Financial Services
- Legal Advisory
Geography
- United Kingdom – Virgin Money, Addleshaw Goddard, and Nationwide Building Society are based in the UK, and the transaction applies within this jurisdiction.
Industry
- Financial Services – The article involves transactions within large financial institutions such as Virgin Money and Octopus Money, guided by financial advisory services.
- Legal Advisory – Addleshaw Goddard provided legal advisory services focusing on financial regulation, commercial, and tax aspects.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Virgin Money | Target | Company | Virgin Money is a trading brand of Clydesdale Bank plc, involved in selling its investment arm to focus on core banking. |
| Octopus Money | Buyer | Company | Octopus Money is acquiring the investment arm from Virgin Money. |
| Addleshaw Goddard | Legal Advisor | Company | A law firm providing advisory services to Virgin Money on this transaction. |
| Nationwide Building Society | Parent Company | Company | Virgin Money is a wholly owned subsidiary of Nationwide Building Society following a recent acquisition. |
| Ben Koehne | Head of Financial Services Sector | Person | Lead advisor from Addleshaw Goddard on the transaction. |
| Carla Edney | Managing Associate | Person | Part of the Addleshaw Goddard team advising Virgin Money. |