Ex-bank exec appointed as first Velocity CFO

Ex-bank exec appointed as first Velocity CFO

Virgin Australia has appointed its first chief financial officer to oversee its growing Velocity frequent flyer business.

Sterling Brain, most recently head of loyalty for NAB, will commence with the company in May. Brain also previously held roles at Boston Consulting and Pricewaterhouse Coopers.

“Sterling’s extensive experience in loyalty, finance and strategy will be of tremendous value to the group as we continue to build one of the world’s leading loyalty programs,” Virgin chief executive John Borghetti said in a statement released this morning.

Velocity has doubled its membership database to 4.8 million over the past five years, but still trails behind Qantas who has around 10 million members.

Virgin is also in search for a new chief executive officer for Velocity after Neil Thompson announced last month he would be stepping down in the role once a replacement was appointed.

Virgin recently sold 35% of Velocity to Affinity Equity Partners for $336 million.

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