Clydesdale chooses David Duffy as new boss

David Duffy will take the reigns at Clydesdale
David Duffy will take the reigns at Clydesdale
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Clydesdale Bank today named Allied Irish Banks (AIB) boss David Duffy as its new chief executive.

Duffy has been boss of AIB, which is 99 per cent owned by the Irish state, since December 2011. He has overseen the lender’s return to profit following the global financial crisis and implemented a number of cost-cutting measures.

Earlier this month, David Thorburn said he was standing down after almost four years at the helm of Clydesdale. The bank’s board said at the time the search for his replacement was well under way.

Duffy will join Clydesdale as parent National Australia Bank considers a possible flotation of the business later this year as it seeks to exit the UK. He will also become an executive ­director of National Australia Group ­Europe.

While his start date has yet to be finalised, it is anticipated to be within the next few months. The appointment is subject to regulatory approval.

Clydesdale 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.”

Clydesdale also said that Debbie Crosbie, who became an executive director last year, has been appointed chief operating officer. She took on additional responsibility for operations and IT in October.

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