Manchester and London-based OakNorth — a digital bank for entrepreneurs — announced on Monday the appointment of Gergely Zaborszky as its new chief financial officer (CFO), subject to regulatory approval, effective from July 2026.
Zaborszky will succeed Rajesh Gupta, who will “retire” this year after more than five years with the company.
“Gergely joins OakNorth’s Board and Executive Leadership Team from Virgin Money UK PLC, where he has spent the past six years, most recently serving as Chief Financial Officer, leading the bank’s financial strategy through a period of transformation and growth, after its acquisition by Nationwide Building Society in 2024,” said OakNorth.
“Prior to this, he was Head of Portfolio Management and FP&A at Virgin Money, driving capital optimisation, balance sheet efficiency, and forecasting discipline.
“Before joining Virgin Money, Gergely held several international positions, including significant US-based finance leadership roles during his decade with GE.
“He served in CFO capacities across GE HealthCare and GE Capital, overseeing their imaging, leveraged finance, working-capital solutions, and strategic-ventures businesses.
“His appointment comes at a pivotal time in OakNorth’s journey. Since its founding in 2015, OakNorth has consistently demonstrated strong performance and resilience, helping thousands of breakthrough businesses – profitable and scaling lower-mid-market companies – who are too often overlooked by traditional banks, across sectors such as healthcare, real estate, hospitality, childcare & education and manufacturing.
“Over the past decade, OakNorth has lent over $21bn across the UK and US, directly supporting the creation of 61,000 new jobs and almost 38,000 new homes. The bank ranks among the top 1% of banks globally for return on equity (ROE) and has built a reputation for market-leading credit metrics and disciplined risk management.”
Rishi Khosla, Co-Founder and CEO of OakNorth, said: “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 said: “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.”