15 March 2011 Last updated at 09:51 ET

Lynne Peacock to quit Clydesdale and Yorkshire banks

The chief executive of the Clydesdale and Yorkshire banks is to step down after seven years.

Lynne Peacock, who is leaving the UK subsidiary of National Australia Bank (NAB), is being replaced by executive director David Thorburn.

He has been chief operating officer at the Glasgow-based Clydesdale Bank for nine years.

Lynne Peacock was previously chief executive of the Woolwich, when it became part of Barclays Group.

She also worked in marketing at Tate and Lyle and at Unilever.

NAB's chief executive in Melbourne, Cameron Clyne, said Lynne Peacock had "made a tremendous contribution to NAB, working tirelessly to build our UK operations into a strong, sustainable business with a first class reputation.

"Lynne ensured the UK businesses were kept safe and secure during the worst financial crisis in post-war history," he added.

David Thorburn joined the board of National Australia Bank Europe three years ago.

He is a former chairman of CBI Scotland, and spent nine years of his career at TSB Scotland.