Former Clydesdale chief steps down from English banking regulator

David Thorburn, former chief executive of Clydesdale Bank, has stepped down from his role with the Prudential Regulation Authority (PRA) in England.

Mr Thorburn, whose term was due to end at the end of August 2018, is planning a return to the private sector.

He said: “It has been a privilege to serve alongside my colleagues, first on the PRA Board and then the PRC, during the final stages of implementing the post-crisis reforms in banking and insurance.

“I am confident that the PRA’s forward looking, judgement based approach focussed on the key risks is the right one. I have greatly enjoyed playing my part in putting that approach into practice.”

Mark Carney, Governor of the Bank of England, added: “I would like to thank David for the many great contributions he has made to the PRC’s work. We have all benefited from his tremendous practical knowledge of retail banking. I wish him every success in the future.”