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 Government, regulators and individuals whose nationalisation of the bank, they believed to have been inappropriate, and a contributory factor to the current crisis. On 15 January 2008, a meeting was held at the 11,000 seat Metro Radio Arena to discuss the situation which then existed, where all but one of the proposals put forward by the hedge funds were rejected. In May Legal & General joined the hedge funds, as an "interested party". The hedge funds are to request that an independent valuer assesses the level of compensation and to argue that the bank's shares are worth more than