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The major bank revealed that Mr Duffy will also be invited to join the boards of Clydesdale Bank PLC and National Australia Group Europe Limited as an executive director.
Mr Duffy’s start date has yet to be finalised, but it is anticipated that he will be in post within the next few months, according to yesterday’s ASX statement.
The appointment is also subject to regulatory approval.
Mr Duffy joins the NAB-owned UK lender from Allied Irish Banks (AIB) where he has been chief executive since December 2011.
He is also president of the Banking and Payments Federation of Ireland and a director of the European Banking Federation.
Mr Duffy was also previously head of global wholesale banking network with ING Group and president and chief executive officer of the ING wholesale franchises in the United States and Latin America.
The appointment follows David Thorburn’s decision to stand down after almost four years as CEO of Clydesdale Bank.
“We are delighted to announce the appointment of David Duffy as CEO of Clydesdale Bank,” Clydesdale Bank board chairman, Jim Pettigrew, said.
“David is a highly effective and motivational leader with a wealth of international banking experience and a strong track record in retail banking,” Mr Pettigrew said.
“In the past three years with AIB, he has delivered an impressive programme of positive change which has been built around the needs of customers,” he said.
“A passionate and genuine customer champion, David’s broad-based skills, leadership, energy and strategic vision will be invaluable as we move into the next phase of our development.”
NAB group chief executive, Andrew Thorburn, said Mr Duffy is a highly regarded banking professional who has the skills to continue to build on the improving performance of the group’s UK banking business.
“David’s leadership in the turnaround of AIB during a very challenging period for Irish banks is impressive,” Mr Thorburn said.
“For the past three years, he has led the bank’s strong and sustainable profit growth, created a dynamic leadership team and gained the confidence and support of key stakeholders from staff, customers and investors to regulators, ratings agencies and governments,” he said.
“As a result of these strong capabilities, David is uniquely qualified to meet the challenges and opportunities of this important role, particularly as we are examining the broader range of options we announced in October 2014 to accelerate NAB’s exit from the UK banking business.”