Northern Rock: UK Treasury signs up savings guru

The British Treasury has signed up savings guru Ron Sandler to head Northern Rock in the event of bank’s nationalisation, it was confirmed today.

Mr Sandler, former head of Lloyd’s insurance market, will go in as the Rock’s executive chairman charged with bringing stability to the bank if a private sector buyer is not found.

Some experts are now predicting a decision over the bank’s future to be made within days, perhaps even ahead of a shareholders’ meeting planned for Tuesday.