FORMER Clydesdale Bank boss David Thorburn has been appointed to the board of the ring-fenced UK bank Barclays is creating in response to reforms intended to avoid a repeat of the financial crisis of 2008, writes Mark Williamson.
Mr Thorburn has been appointed a non-executive director of Barclays Bank UK and chairman of the board risk committee subject to regulatory approval.
The chairman of the UK bank, Sir Ian Cheshire, said Mr Thorburn’s understanding of financial services, breadth of experience, and proven track record will make him an invaluable member of the new board.
The University of Glasgow graduate spent 26 years in retail and commercial banking, including four in the top job at the Clydesdale and Yorkshire bank operation. He stood down in 2015 in advance of the flotation of the business as CYBG.
Mr Thorburn joined the Bank of England’s Prudential Regulation Committee in September 2015 but resigned from it last week with a view to returning to the private sector.
He said he was delighted to have the opportunity to help shape the new ring-fenced arm of Barclays.
Ring-fencing is intended to prevent problems in areas such as investment banking leading to the disruption of services for consumers.
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