Former Abbey group FD Mark Pain will serve with the newly-created Northern
Rock as a non-executive director.
Pain, a former group FD of Barratt
Developments, takes on the role as Northern Rock splits into a new
mortgage-taking business, and one containing its historic debts and loan book.
Rock will be split into: A new customer savings and mortgage bank
known as Northern Rock, which will also hold some of the previous incumbent’s
wholesale deposits; and Northern Rock (Asset Management), which is effectively
the existing company’s residential mortgage book that will be regulated as a
mortgage provider but not a deposit taking bank.
NRAM will hold all unsecured loan accounts, the government loan and the
current wholesale funding and debt instruments, and mortgages allocated to the
Harrison Beale & Owen will (HB&O) have a new chairman and managing director at the helm for 2017
Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal
UK senior partner Phil Verity has been elected for a second term at Mazars