“I was appointed Chair of the Board in April 2022 and am honoured to undertake this role for an organisation that is so dedicated to its members, customers and community. 2024 has been a challenging year for all our customers due to the many interest rate rises that have taken place. Throughout the year, our priority has been to balance the contrasting impact of this on our savers and borrowers, while doing all we can to safeguard those borrowers most at risk.
The exceptional growth in our savings business in 2023 reflects the competitiveness of our rates throughout the year as well as the success of our Loyalty savings products. At the same time, the Board has also been very aware of the need to maintain the Society’s financial strength, whilst investing in its technology foundations, its excellent people and in future services that will ensure we remain relevant and resilient in a fast-developing sector. We have tried hard to strike the right balance between all these competing priorities. Thank you for all your support and loyalty in 2023."
David Thorburn
Chair of the Board
Appointed to the Board
April 2022
Committee membership
Chair of the Board and the Nominations & Governance Committee. Member of the Remuneration Committee and Non-Executive Directors’ Remuneration Committee.
Experience
David has over 40 years’ experience in the banking industry, including four years as Chief Executive of Clydesdale and Yorkshire Banks. Prior to joining the Society, David held a number of Board positions including Non-Executive Director at Barclays Bank UK PLC where he chaired the Board Risk Committee and External Member of the Bank of England’s Prudential Regulation Committee. David is also a former Board member of the British Bankers’ Association, former Chair of the Confederation of British Industry in Scotland and former President of the Chartered Institute of Bankers in Scotland. David’s previous roles also include Independent Non-Executive for the EY Global Network, member of its Global Governance Council and former Chair of Ernst & Young LLP Audit Board.
External appointments
Independent Non-Executive at Ernst & Young LLP and Chair of the Chartered Banker Institute 2025 Foundation.
“I was appointed Chair of the Board in April 2022 and am honoured to undertake this role for an organisation that is so dedicated to its members, customers and community. 2024 has been a challenging year for all our customers due to the many interest rate rises that have taken place. Throughout the year, our priority has been to balance the contrasting impact of this on our savers and borrowers, while doing all we can to safeguard those borrowers most at risk.
The exceptional growth in our savings business in 2023 reflects the competitiveness of our rates throughout the year as well as the success of our Loyalty savings products. At the same time, the Board has also been very aware of the need to maintain the Society’s financial strength, whilst investing in its technology foundations, its excellent people and in future services that will ensure we remain relevant and resilient in a fast-developing sector. We have tried hard to strike the right balance between all these competing priorities. Thank you for all your support and loyalty in 2023."
