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 Rock price was £4.51908. It joined the stock exchange as a minor bank and was expected to be taken over by one of its larger rivals, but it remained independent. In 2000 Northern Rock gained promotion to the FTSE 100 Index, but was demoted back to the FTSE 250 in December 2007 and later suspended from the LSE on nationalisation. On 14 September 2007 the Bank sought and received a liquidity support facility from the Bank of England, following problems in the credit markets caused by the financial crisis of 2007–2008. The bank was more exposed than others to restrictions in