Lynne Peacock, the chief exec of Clydesdale and Yorkshire banks is set to step down, and will be replaced by executive director, David Thorburn.
The bank, which is the UK subsidiary of National Australia Bank (NAB) is operated from Glasgow, and Lynne Peacock will step down after 9 years, after previously running the Woolwich.
She has also worked in a marketing capacity at Unilever and Tate and Lyle.
The Australian bank NAB’s chief executive Cameron Clyne commented that Lynne 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.
She will be replaced by David Thorburn who joined the board of National Australia Bank Europe over three years ago.
David was chairman of CBI Scotland, having previously spent nine years of his career at TSB Scotland.