 Yarrow was chairman and managing director of Yarrow Shipbuilders for over forty years, diversifying the company and overseeing its move to the River Clyde.He served as Chairman of the North of Scotland and Clydesdale Bank and, having been appointed a Commander of the Order of the British Empire (CBE) in the 1918 New Year Honours, he was promoted to Knight Grand Cross (GBE) in the 1958 New Year Honours, for advancing Scottish business interests.He served two terms as President of the Institution of Engineers and Shipbuilders in Scotland, from 1921-23 and from 1956-57.