Virgin Money Holdings (UK) Plc appointed Irene Dorner as chair-elect to replace Glen Moreno.

Dorner, who will also become an independent nonexecutive director of the company, will join Virgin Money's board of directors as chair-elect March 1. She will become chair of the board April 1, following Moreno's retirement as a director and chair at the end of March.

Dorner previously served as president and CEO of HSBC Holdings Plc's U.S. operations. Her appointment forms an all-female top leadership team at Virgin Money, which is headed by Jayne-Anne Gadhia.