Yorkshire Bank announces new CEO
THE former CEO of Allied Irish Banks (AIB) has been appointed as the new chief executive of Yorkshire Bank and Clydesdale Bank.
David Duffy will take up the role, subject to regulatory approval, following David Thorburn’s decision to stand down after almost four years in charge of Clydesdale Bank and Yorkshire Bank.
While Mr Duffy’s start date has yet to be finalised, it is anticipated that he will be in post within the next few months.
Mr Duffy joins from AIB where he has been chief executive officer since December 2011. AIB is one of the largest retail and commercial banks in Ireland with around 2.5m customers across the Republic of Ireland and the UK.
Clydesdale Bank together with Yorkshire Bank form the UK banking division of National Australia Bank (NAB), which has previously confirmed it was preparing a £2bn-plus floatation of Yorkshire and Clydesdale banks.
Clydesdale Bank board chairman, Jim Pettigrew, said: “David is a highly effective and motivational leader with a wealth of international banking experience and a strong track record in retail banking. In the past three years with AIB, he has delivered an impressive programme of positive change which has been built around the needs of customers. A passionate and genuine customer champion, David’s broad-based skills, leadership, energy and strategic vision will be invaluable as we move into the next phase of our development.
“This important announcement is the latest in a series of appointments over the past six months which have greatly enhanced the strength of our UK Boards and UK Executive Committee. David’s decision to join us is also a real vote of confidence in Clydesdale and Yorkshire Banks, our people and our future prospects in the UK market.”
NAB Group chief executive, Andrew Thorburn, added: “I am very pleased to be announcing the appointment of David Duffy as CEO of Clydesdale Bank. He is a highly regarded banking professional who has the skills to continue to build on the improving performance of our UK Banking business.
“David’s leadership in the turnaround of AIB during a very challenging period for Irish banks is impressive. For the past three years, he has led the bank’s strong and sustainable profit growth, created a dynamic leadership team and gained the confidence and support of key stakeholders from staff, customers and investors to regulators, ratings agencies and governments.
“As a result of these strong capabilities, David is uniquely qualified to meet the challenges and opportunities of this important role, particularly as we are examining the broader range of options we announced in October 2014 to accelerate NAB’s exit from the UK Banking business.”
