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January 12, 2008: British Treasury Comes to Agreement with Future Head of Troubled Bank after Nationalization

2008-01-12

The British Treasury signs Ron Sandler, an experienced banker, to head ailing mortgage giant Northern Rock in the event of its nationalization, according to media reports. [Daily Telegraph, 2/26/2008] Commercial companies are currently finalizing bids in an attempt to keep the bank private, but it will be nationalized the next month and Sandler will be appointed to run it. [BBC, 8/5/2008]