The post of chief executive of Clydesdale and Yorkshire banks is to be held by Steve Targett (subject to regulatory approval), who will also continue in his current role as chief executive of Financial Services Europe. Financial Services Europe includes the retail banking franchises of Clydesdale, Yorkshire, Northern and National Irish banks. The current chief executive of Clydesdale and Yorkshire banks, Grahame Savage, is to retire later this year.
Commenting on the move, Sir Hugh Sykes, chairman of National Australia Group Europe, said: “The driving force behind our strategic review has been to simplify management structures and to ensure our focus is on local accountability and delivering the products and services our customers are asking for. We now have a structure in place that has delivered more local autonomy. Local management teams can now run Clydesdale and Yorkshire banks with simplified reporting lines within our European division.”