Nationalisation of Northern Rock in financial services. The OFT concluded that "public support for Northern Rock did not, during that period, have a significantly adverse impact on competition." In February 2008, Ron Sandler was appointed Executive Chairman by the government. Bryan Sanderson, Sir Ian Gibson, David Jones and Paul Thompson resigned from the board at this time. Gary Hoffman became Chief Executive of Northern Rock in October 2008. He has previously been the vice chairman of Barclays and a former Managing Director of Barclaycard. With the appointment of Gary Hoffman, Ron Sandler changed to a Non-Executive Chairman position. On 4 November 2010 Hoffman left
Nationalisation of Northern Rock the final price of their trading prior to nationalisation. This legal action is thought to have started on 8 May. A number of Northern Rock shareholders have also taken action in an attempt to get some level of compensation for their shares. Three North Labour MPs have agreed to hand a series of petitions in, on behalf of shareholders who lost hundreds of thousands of pounds when their shares were confiscated. As of 6 July around about 10 firms had applied to value the Bank. "The Times" reported on 3 August that Houlihan Lokey, BDO Stoy Hayward and L.E.K. Consulting