In a move designed to boost Virgin Money’s agricultural financing strategy, the bank has announced the appointment of Stephen Buchan as its regional head of agriculture for Scotland.

The bank has a history of providing farmers with finance across the UK, and agriculture now accounts for 16% of Virgin Money’s overall business lending. A dedicated agricultural team that covers the entirety of the UK is headed up by Brian Richardson and supported by the regional heads of England and Scotland.

Mr Buchan started out as a bank clerk when he left school, and has worked across a range of sectors including commercial banking and five years at Scottish Widows. Having held a variety of managerial roles with the bank’s Agricultural and Credit Departments, he has been responsible for building strong agricultural portfolios.

“My aim is to establish Virgin Money as the best bank for farmers in Scotland. With agricultural inflation, net zero, and changes to the financial support regime, we are facing some defining challenges in our sector. Despite this maelstrom of change my confidence in Scottish farming remains steadfast," said Stephen.

“This is an exciting time to be working with Scottish farmers and I have an exceptional team, who on average have 27 years of banking experience, with 17 years of that being in agriculture. Together we share an enthusiasm, commitment, and passion to work with customers to support them in every way possible. Our depth of knowledge and expertise is well recognised by farming businesses and is key to the strong partnerships and relationships that we have with our customers.

Mr Richardson commented: “I am delighted to have Stephen as the regional manager covering Scotland. His passion for and knowledge of the agricultural sector, as well as his many years of service I am sure will underpin his leadership. These are challenging times, and he is perfectly placed to support our customers.

"Going forward, Virgin Money aims to build on its experience and heritage through expert managers who fully understand the nuances of the farming sector, and the importance of making long-term relationships to provide services in cost-effective and innovative ways.”