OakNorth has appointed former Virgin Money finance chief Gergely Zaborszky as its new chief financial officer, subject to regulatory approval.
The digital bank – which focuses on lending to entrepreneur-led businesses in the lower mid-market – said Zaborszky will join in July 2026, succeeding Rajesh Gupta, who is set to retire after more than five years with the business.
Zaborszky (pictured) joins the board and executive leadership team from Virgin Money UK PLC, where he has spent the past six years, most recently as chief financial officer.
During that period, he oversaw the bank’s financial strategy through its acquisition by Nationwide Building Society in 2024 and the subsequent integration process.
Earlier in his tenure at Virgin Money, he served as head of portfolio management and financial planning and analysis, focusing on capital optimisation, balance sheet efficiency and forecasting.
Before that, he held a number of international finance roles during a decade at GE, including CFO positions across GE HealthCare and GE Capital businesses in the US.
GROWTH AMBITIONS IN THE UK AND US
The appointment comes as OakNorth continues to expand its lending operations across the UK and US property and business markets. Since launching in 2015, the bank has lent more than $21bn, supporting 61,000 jobs and the delivery of almost 38,000 new homes, according to company figures.
OakNorth, which lends across sectors including healthcare, real estate, hospitality, childcare and manufacturing, said it remains focused on disciplined risk management and profitability. The bank reports that it ranks within the top 1% of banks globally for return on equity.
Rishi Khosla, co-founder and CEO of OakNorth, says: “Gergely’s extensive background in both banking and global corporates gives him a distinctive perspective on managing complex financial operations and scaling performance across international markets.
“His appointment marks an important step in OakNorth’s next stage of growth as we continue to expand both in the UK and US. On behalf of everyone at OakNorth, we are so grateful to Rajesh for his incredible contribution over the past five and a half years.”
Zaborszky adds: “OakNorth has built a unique model that combines innovation, rigorous credit culture, and a genuine commitment to the businesses that drive economic growth.
“Joining at such an exciting point – with strong profitability, and an ambitious growth agenda – is a privilege. I look forward to working with Rishi, Joel, and the team to continue building on this success and to help take OakNorth to its next stage globally.”
