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Deputy chairman completes top team

Clydesdale hires veteran Bennett in step towards IPO

David BennettClydesdale Bank has appointed banking veteran David Bennett as deputy chairman in a move that may indicate a further step towards an IPO.

Mr Bennett, former chief executive of Alliance & Leicester, also joins the board of National Australia Group Europe in the same capacity. Full regulatory approval for the appointment has been granted.

He is currently a non-executive director of Ashmore Group, Paypal Europe, Jerrold Holdings and is chairman of Homeserve Membership.

Until March this year he was a non-executive director of Bank of Ireland UK, and he left easyJet after nine years as a non-executive director in September 2014.

He was group finance director of Alliance & Leicester for six years before becoming  chief executive in 2007 and subsequently selling the former building society to Santander.

Following the acquisition he was appointed to the board of Abbey National as an executive director in 2008, where he was responsible for the combined intermediary mortgage business as well as playing a key role in the integration of Abbey National and Alliance & Leicester.

Jim Pettigrew, chairman of Clydesdale Bank, said: “We are delighted to welcome someone with David’s in-depth experience of retail banking to our boards.

“Few people have enjoyed as strongly varied and successful a career as David has. His key involvement in some of the most significant changes in banking over the past decade and his first-class business knowledge make him an ideal fit for our ambitious business and the significant and exciting opportunities which lie ahead for us.”

Mr Bennett’s appointment is the latest step in the further strengthening of the boards which includes the appointment of David Duffy as chief executive in June and the appointment of Adrian Grace as a Non-Executive Director in January.

Executive director Debbie Crosbie was also appointed as chief operating officer in January and Ian Smith, chief financial officer, also became an executive director in March.

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