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
Executive Council of the Isle of Man Executive Council of the Isle of Man The Executive Council is the former title of the Council of Ministers, the principal executive body of the Isle of Man Government. Its chairman was the Lieutenant Governor until 1980, when he was replaced by a Chairman elected by Tynwald. The Chairman was renamed "Chief Minister" in 1986, and the Council was renamed "Council of Ministers" in 1990. The Executive Council was established following the 1949 General Election, "to assist the Lieutenant Governor in the performance of his duties", as successor to an Executive Committee of Tynwald which was set up in 1946.