Northern Rock nationalisation 'about stabilisation', says new boss

The new boss of troubled UK bank Northern Rock today said nationalisation was not about running the bank “down to extinction”.

Northern Rock nationalisation 'about stabilisation', says new boss
Mon, 18 Feb, 2008 - 13:31

The new boss of troubled UK bank Northern Rock today said nationalisation was not about running the bank “down to extinction”.

Ron Sandler, the Government’s £90,000 (€119,981)-a-month choice to head up the stricken Newcastle lender, said it was “all about stabilisation” and developing the bank into a profitable business.

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