Nationalisation of Northern Rock mortgage products, but the other company, "Northern Rock (Asset Management) plc", will not. The subsidiary in Guernsey, Northern Rock (Guernsey) Limited, and all Irish accounts are owned by the new Northern Rock plc. After the split there are two boards of directors; Ron Sandler is the Chairman of the new Northern Rock plc and Richard Pym is Chairman of the Asset Management company. Gary Hoffman is Chief Executive of both companies. On 10 March 2010 Northern Rock (Asset Management) plc announced that for the year 2009 the company made a better than expected loss of £257.4 million; this was a
Northern Ireland Executive Northern Ireland Executive The Northern Ireland Executive is the devolved government of Northern Ireland, an administrative branch of the legislature Northern Ireland Assembly. It is answerable to the Assembly and was established according to the terms of the Northern Ireland Act 1998, which followed the Good Friday Agreement (or Belfast Agreement). The executive is referred to in the legislation as the Executive Committee of the Assembly and is an example of a consociationalist government. The Northern Ireland Executive consists of the First Minister and deputy First Minister and various ministers with individual portfolios and remits. The main Assembly parties appoint