David Thorburn (banker)

Last updated

David Thorburn is a Scottish-born banker who is the chairman of the board at the Coventry Building Society. His earlier roles in British banking include the position of chief executive at Clydesdale Bank and Yorkshire Bank, subsidiaries of the National Australia Bank.

Contents

Education

David J. Thorburn was born in Glasgow in 1958, raised in Hamilton, South Lanarkshire and educated at Hamilton Academy, from which he entered the University of Glasgow, graduating in Law. In 1999 he completed an advanced management programme at Harvard Business School, United States. [1]

Career

Headquarters of the Clydesdale Bank, Glasgow Clydesdale Bank HQ.jpg
Headquarters of the Clydesdale Bank, Glasgow

Joining the Clydesdale Bank as a trainee graduate in 1978 and moving to the Trustee Savings Bank, Scotland, in 1984, Thorburn returned to the Clydesdale in 1993 as a senior manager.

In April 2002 he joined the executive team at Clydesdale Bank. In 2005, Yorkshire Bank was merged into Clydesdale. Thorburn was appointed as chief executive in 2011, [2] and for a time his signature appeared on Clydesdale banknotes. [1] [3] [4] He stepped down from these posts in January 2015, at a time when the parent National Australia Bank was considering options for exiting the UK. [2]

From July 2015 to March 2018, Thorburn was an independent member of the Bank of England’s Prudential Regulation Committee, [5] stepping down a few months before the end of his three-year term to take up a non-executive directorship at the retail division of Barclays Bank, where he chaired the risk committee. [6] From May 2016, he also sat on the global governance council at the multinational accounting firm Ernst & Young. [7]

He was appointed as chairman of the board at Coventry Building Society, the UK's second largest building society, [8] in April 2022. [9]

Other appointments

David Thorburn is a former vice-Chairman and Chairman of the Confederation of British Industry in Scotland and a past President of the Chartered Institute of Bankers in Scotland. He is also a former Director of Scottish Financial Enterprise and in May 2009 was invited by the First Minister of Scotland to head the team to develop a new Skills Gateway for the financial services industry in Scotland. [10] [11] [12]

Related Research Articles

<span class="mw-page-title-main">British Bankers' Association</span> Former trade association

The British Bankers' Association (BBA) was a trade association for the UK banking and financial services sector. From 1 July 2017, it was merged into UK Finance.

Nationwide Building Society is a British mutual financial institution, the seventh largest cooperative financial institution and the largest building society in the world with over 16 million members. Its headquarters are in Swindon, England.

<span class="mw-page-title-main">Yorkshire Bank</span> Retail bank in the United Kingdom

Yorkshire Bank is a trading name used by Clydesdale Bank plc for its retail banking operations in England.

<span class="mw-page-title-main">Egg Banking</span> British internet bank

Egg was an internet bank headquartered in Derby, that is now a trading name of Yorkshire Building Society. Egg was born out of the banking arm in the United Kingdom of Prudential plc, which was established in 1996, and the Egg brand was launched in October 1998. The first online credit card was launched in September 1999.

Frederick Anderson Goodwin FRSE FCIBS is a Scottish chartered accountant and former banker who was chief executive officer (CEO) of the Royal Bank of Scotland Group (RBS) between 2001 and 2009.

<span class="mw-page-title-main">Bob Diamond (banker)</span> Anglo-American banker and business executive

Robert Edward Diamond Jr. is an American banker and former chief executive officer of Barclays plc. In 2010, he became its president and deputy group chief executive; and in January 2011, succeeded John Varley as group chief executive of Barclays.

<span class="mw-page-title-main">John McFarlane</span> British businessman

John McFarlane OBE is a British businessman. He served as group chairman of Barclays from 2015 to 2019. From 2020 to 2023, McFarlane served as Chairman of Westpac.

Sir David Alan Walker is a British banker and former chairman of Barclays. He was chairman of Morgan Stanley International from 1995 to 2001, and 2004 to 2005, and remains a senior advisor. Walker was previously Assistant Secretary at the Treasury (1974–77), chairman of the Securities and Investments Board (1988–92), executive director for finance and industry at the Bank of England (1989–95) and deputy chairman of Lloyds TSB (1992–94). In 1994 he also joined the Washington-based financial advisory body, the Group of Thirty.

John Silvester Varley is an English banker who was the group chief executive of Barclays from 2004 to 2011.

<span class="mw-page-title-main">Virgin Money UK</span> UK-based bank and financial services company

Virgin Money is a banking and financial services brand operating in the United Kingdom as a trading name of Clydesdale Bank plc.

<span class="mw-page-title-main">Coventry Building Society</span> British building society based in Coventry

The Coventry Building Society is a building society based in Coventry, England. It is the second largest in the United Kingdom with total assets of more than £62 billion at 31 December 2023. It is a member of the Building Societies Association. The society has over 1.6 million saver-members and a further 460,000 borrower-members.

<span class="mw-page-title-main">Stephen Hester</span> British banker (born 1960)

Sir Stephen Alan Michael Hester is an international businessman and former banker. He is chairman of Nordea Bank and easyJet, and former chief executive officer (CEO) of RSA Insurance Group, of the RBS Group and of British Land.

<span class="mw-page-title-main">Project Merlin</span> 2011 agreement between British government and four banks

Project Merlin is an agreement between the British Government of David Cameron and four of the major high street banks in the United Kingdom. These banks are Barclays, Lloyds Banking Group, the Royal Bank of Scotland and HSBC. The agreement covers aspects of banking activity, notably lending, pay and bonuses with the intention of promoting lending to businesses, particularly small businesses, curbing the size of bankers' bonuses and promoting transparency with regards to executive pay. The agreement was finalised on 9 February 2011.

Roger Allan Jenkins is a British financier and former international athlete. He is the brother of former World no.1 ranked 400m runner, Olympic medalist, convicted drug runner, and informant David Jenkins.

<span class="mw-page-title-main">Barclays</span> British multinational banking and financial services company

Barclays plc is a British multinational universal bank, headquartered in London, England. Barclays operates as two divisions, Barclays UK and Barclays International, supported by a service company, Barclays Execution Services.

Gary Lumby is a British banker and president of the Leeds Chamber of Commerce. He is also a business mentor and non-executive director for a number of SMEs. He is a Fellow of the Chartered Institute of Bankers in Scotland and was the director of small business banking for Yorkshire Bank and Clydesdale Bank.

Richard Lee Banks is a British banker who is Chief Executive of UK Asset Resolution, the state-owned "bad bank" that was formed from Northern Rock and Bradford & Bingley, when those banks failed in 2008. In 2014, an opinion piece in the Evening Standard asked if he was "Britain's best banker", as he had successfully reduced the assets of UK Asset Resolution by 40 percent and repaid £4bn to the British government.

James Neilson Pettigrew who is currently the chairman of the AIB Group Plc, RBC Global Asset Management UK Ltd, and Scottish Ballet. Until recently, he was the chairman of Virgin Money & CYBG PLC, the owners of Clydesdale Bank, Yorkshire Bank and the digital app based current account provider, B. CYBG PLC was formed as part of the demerger with National Australia Bank in early 2016. From 2016-2019, he was Chairman of Scottish Financial Enterprise (SFE), the representative body for Scotland's financial services industry, from 2016-2019. He was also co-chair for the Financial Services Advisory Board (FiSAB) with the First Minister, and was on the advisory board of TheCityUK. and chaired Dundee Heritage Trust.

Debbie Crosbie is a British banker, and the chief executive of the Nationwide Building Society since June 2022. She was previously the CEO of TSB Bank from May 2019.

References

  1. 1 2 Williamson, Mark (27 November 2004). "Saturday interview: David Thorburn". HeraldScotland. Retrieved 28 September 2022.
  2. 1 2 Reid, Scott (6 January 2015). "Thorburn stands down as Clydesdale Bank boss". The Scotsman. Retrieved 28 September 2022.
  3. "The Clydesdale Bank". TheBankNoteStore.com. Archived from the original on 28 November 2010 via Internet Archive.
  4. "Executive profile: David Thorburn". Clydesdale Bank. Archived from the original on 20 November 2010 via Internet Archive.
  5. "David Thorburn resigns from the Prudential Regulation Committee". Bank of England. 9 March 2018. Retrieved 28 September 2022.
  6. Murden, Terry (17 March 2018). "Thorburn to head up new Barclays division". Daily Business. Retrieved 28 September 2022.
  7. McCulloch, Scott (4 May 2016). "Former Clydesdale Bank chief David Thorburn joins EY". businessInsider. Retrieved 28 September 2022.
  8. "Coventry Building Society outperforms the market to remain one of the UK's largest lenders". Business & Innovation Magazine. 28 February 2022. Retrieved 28 September 2022.
  9. "Coventry Building Society appoints chair designate". Business & Innovation Magazine. 7 February 2022. Retrieved 28 September 2022.
  10. CBI Scotland – News Release – Chairman and vice-Chairman Archived 20 July 2011 at the Wayback Machine Retrieved 12 November 2010
  11. The Scotsman article 1 July 2006, David Thorburn Retrieved 12 November 2010
  12. Scottish Government. News, May 2009 - Financial Skills Gateway Retrieved 12 November 2010