Alexa
  • Directory of Taiwan

Northern Rock CEO resigns to join NBNK

Northern Rock CEO resigns to join NBNK

Nationalized mortgage lender Northern Rock says Chief Executive Gary Hoffman has resigned to join new banking venture NBNK Investments.
Northern Rock, which nearly collapsed during the credit crisis, said Thursday that Ron Sandler _ who led the lender in the months after its multimillion pound (dollar) state bailout _ will take over temporarily.
Hoffman will join NBNK next April.
NBNK was set up by former Lloyd's of London Chairman Peter Levene earlier this year. It plans to use the 50 million pounds ($81 million) it raised through a stock market listing to buy bank assets across Britain.
Hoffman's departure is the latest high-profile move in the banking sector, which has seen changes at the top of Barclays, HSBC and Lloyds Banking Group in recent months.


Updated : 2021-08-01 06:22 GMT+08:00