Bankers not the best at PR, says outgoing Yorkshire Bank chief
OUTGOING Yorkshire Bank chief executive Lynne Peacock believes the banking sector has not been its own “best PR agent” during the recession but claims she is leaving a stronger organisation than when she took the role seven years ago.
National Australia Bank announced yesterday that Ms Peacock is to stand down as chief executive of its Yorkshire and Clydesdale banking operations.
Speaking to TheBusinessDesk.com, Ms Peacock said she would look to take a break following her departure in July.
However, Ms Peacock said she would consider taking non-executive director roles. She is currently a non-executive director at Scottish Water.
She said: “I’ve been chief executive for seven years and that’s a long time. It’s certainly seemed a long time given the recent experience [of the economy]!
“I think having steered the banks through some of the worst conditions in recent memory you have to decide the right moment to hand over the baton and it felt right. I’ve been working for 35 years since graduating and I think it’s time to take things easier. I’d like to take a break and maybe take on some part-time positions.”
Ms Peacock, who will be replaced by David Thorburn, currently executive director of the Yorkshire and Clydesdale Banks, added: “I think I’ve left behind a strong, safe and secure business. I’m leaving behind a business that with David Thorburn and the team is in capable hands.
“And I’m leaving behind a business that in terms of the shape of the business and the systems and the customer base is stronger than it was in 2004.”
Asked if she felt the negative perception of the banking industry by the public was fair, Ms Peacock said: “I think you can understand why people feel the way they do. I don’t think necessarily the banking industry has been its own best PR agent. I also think that people do recognise that not all banks and financial institutions are the same and certainly for brands such as Yorkshire Bank and Clydesdale Bank, the message from the recession is that we are not the same as all the others.”
On the state of the economy Ms Peacock, who joined NAB eight years ago, added: “I think we’re in a slow economic recovery but I don’t think that will be smooth all the time. For example in December we had setbacks and that was because of physical weather conditions that hit different markets. I think different sectors will grow at different rates.”
Ms Peacock’s decision has been announced just days after NAB was linked with a bid for 600 branches Lloyds Banking Group is being forced to sell as a condition of the Government taking a majority stake in 2009.
