Clydesdale Bank has wasted no time finding a new chief executive, appointing a successor to David Thorburn less than a fortnight since he said he was standing down after four years at the helm.
It has poached David Duffy, who has been running Allied Irish Banks for the past three years.
Thorburn decided to quit after National Australia Bank, which owns Clydesdale and its sister bank Yorkshire, announced it wanted to get out of the UK after racking up more than £550 million in PPI and interest rate hedge costs.
Today NAB chief executive Andrew Thorburn said: “David’s leadership in the turnaround of AIB during a very challenging period for Irish banks is impressive.
“He 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.”
Clydesdale did not disclose Duffy’s pay package. His predecessor was on a salary of £955,000.
He is expected to start work in “the next few months”.
