Former Virgin Money Holdings (UK) PLC CEO Jayne-Anne Gadhia will not join Bank of England's financial policy committee as an external member in April as planned, as the central bank has decided to delay her appointment by a year to April 2020.

The central bank said March 14 that the delay is meant to avoid conflicts of interest that could arise due to Gadhia's involvement with CYBG PLC, which acquired Virgin Money Holdings in 2018.

Outgoing committee member Martin Taylor will continue in his role until Gadhia joins in 2020.