Ex-Northern Rock FD to set up consulting business
Collapsed bank Northern Rock's former finance director David Jones is setting up an advisory business
THE BANNED FORMER finance director of Northern Rock is to set up a new consulting business.
David Jones, who was exiled from the banking industry following the collapse of the bank in 2008, is embarking on an advisory career, the Sunday Telegraph reports.
According to documents filed at Companies House, Jones has created Heriot Consulting and is the sole shareholder.
He was fined £320,000 last year by the Financial Services Authority for his role at the failed bank.
The financial regulator concluded Jones lacked integrity after it found he allowed false mortgage arrears to appear in Northern Rock’s annual financial report.
There is no suggestion this move breaches his lifetime ban.
The news comes weeks after reports Northern Rock is likely to be sold for £1bn later this year.