Nationalisation of Northern Rock in the event that the takeover bids fail. On 12 January 2008, the Treasury recruited Ron Sandler, the former Lloyd's of London Chief Executive, to lead Northern Rock, in the event that the bank was nationalised. If the Bank was to be temporarily nationalised, the government would manage the Bank at "arm's length" on a commercial basis, where services for savers and borrowers would not be affected and the company would continue to operate as normal. However nationalisation would also address the future of the Northern Rock Foundation. Alistair Darling rejected the possibility of the Bank being put into administration.
Nationalisation of Northern Rock March 2010 UKFI announced its intention to integrate Northern Rock (Asset Management) plc and Bradford & Bingley plc under a single holding company. On 1 October it was announced that Bradford & Bingley plc and Northern Rock (Asset Management) plc had been merged under a single holding company UK Asset Resolution Ltd. In 2014 the Northern Rock name disappeared from asset management company's name as it became NRAM plc. In 2015 UKFI announced that it will seek expressions of interest for the divestment of mortgage servicing capabilities of the NRAM business as well as the Granite securitisation vehicle. UKFI have