Former Yorkshire Bank boss takes Bank of England role

FORMER Yorkshire Bank chief executive David Thorburn is to join the board of the Prudential Regulation Authority, which is part of the Bank of England’s regulation of banks.

He will begin his role on September 1, six months after ending his tenure as head of National Australia Bank’s UK business, that also includes Clydesdale Bank.

Mr Thorburn will be joined on the board by fellow new appointee Dr Norval Bryson, who will step down as deputy chairman of Scottish Widows Group and non-executive director of TSB Banking Group.

Mark Carney, Governor of the Bank and chairman of the PRA Board said: “Each brings extensive insight and experience to the PRA Board. David’s considerable expertise in retail and commercial banking will be of great benefit as will Norval’s exposure to the insurance sector and extensive experience as a non-executive director.”

The appointments have been approved by Chancellor of the Exchequer George Osborne. The PRA Board currently consists of four Bank members – the Governor of the Bank, and the Bank’s Deputy Governors for Financial Stability, Prudential Regulation, and Markets & Banking – as well as five independent members – Sandy Boss, Mark Yallop, David Belsham, Charles Randell and Martin Wheatley.