Can the Virgin brand essence rub off on Northern Rock?
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Yesterday’s announcement that Virgin is buying the “good” parts of Northern Rock, and entering the world of branch banking for the first time, has been welcomed as potentially ushering in a new era of heightened competition and improved service in the world of personal banking. After all, Virgin’s track record in re-writing the rules of competition in favour of the consumer – across many of the industries it has entered, from airlines to mobile phones - is pretty strong.
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