|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    25th of February 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Banking News feed Banking News

All Financial News feed All Financial News




Northern Rock’s Gary Hoffman to join NBNK

Bookmark and Share

by Kay Mitchell
’Northern

The chief executive of nationalised Northern Rock is leaving the crisis-torn bank to join NBNK.

According to reports today, Gary Hoffman will assume the chief executive’s role at NBNK – the banking institution set up by two City financial-sector heavyweights.

NBNK is set to build a significant presence in the UK and is now trading on London’s AIM.

It plans to compete with other High Street banks and board members include former Treasury Committee head Lord McFall and Sir David Walker.

Lord Peter Levene, chairman of Lloyds of London, the insurance market, is chairman of the bank.

Meanwhile, Northern Rock chairman Ron Sandler will assume the chief executive’s responsibilities and become executive chairman.

Mr Hoffman, meanwhile, has been credited with reversing the fortunes at Northern Rock.

Northern Rock collapsed in the autumn of 2007 when savers staged a nationwide run on the bank.

This signalled the onset of the banking crisis and it was subsequently nationalised in February 2008.

Prior to joining Rock, Mr Hoffman worked at Barclays, where he was group vice-chairman and an executive director, having joined the bank as a graduate in 1982.

Discuss this in the Finance Markets forums

Story link: Northern Rock’s Gary Hoffman to join NBNK



News posted: November 4, 2010

Financial Services:





Related financial stories to: Northern Rock’s Gary Hoffman to join NBNK:
Previous: «
Next: »

Visited 3339 times, 2 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.

Tags: , , ,