Partner Article

New ‘bad bank’ bosses named

Government body UKFI has announced that the single Northern Rock and Bradford & Bingley holding company - a merger between the so-called bad banks - will be headed up by Richard Pym and Richard Banks.

Pym, who is currently chairman of B&B and Northern Rock, has been named chairman designate of the new holding company. Banks, the managing director of B&B, has been appointed as chief executive designate.

Both Pym and Banks will manage the integration of B&B and Northern Rock, along with the current co-chief executive of Northern Rock, Gary Hoffman.

As yet, no timescale has been confirmed for the integration of the two companies.

The appointments will be subject to regulatory approval by the FSA.

This was posted in Bdaily's Members' News section by Ruth Mitchell .