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Clydesdale and Yorkshire CEO David Thorburn exits

Clydesdale and Yorkshire chief executive David Thorburn has quit his role at the helm of the lenders, parent company National Australia Bank has confirmed.

Thorburn assumed the chief executive role at sister banks Clydesdale and Yorkshire in 2011, having joined Clydesdale in 1993. He was appointed to the executive leadership team in 2002.

No successor has been named, though last month NAB was rumoured to be preparing a £2bn stock market float of the two UK banks after stating that pulling out of the UK was “an absolute priority.”

In a statement to the Australian Stock Exchange, Clydesdale Bank chairman Jim Pettigrew says: “On behalf of the board I would like to thank David for his significant contribution to Clydesdale and Yorkshire Banks over many years.”

Thorburn adds: “I’m proud of the work my team and I have undertaken during my tenure as CEO, and I leave knowing that Clydesdale and Yorkshire Banks are in much better shape.

“However, having been CEO for almost four years, I came to the view that it was in the best interests of the business for me to stand down at this time and allow an injection of new leadership to take place.”

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