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 by actively encouraging mortgage customers to leave when their mortgage deal matures. The reason for this change being government policy to increase the availability of credit. This £14 billion was split into £5 billion in 2009 and £9 billion in 2010. In March 2009 mortgages issued by the bank rose by 70%, compared to the previous month. In February 2010 "The Times" claimed that Northern Rock was interested in buying some of the branches of RBS and Lloyds. In February 2010 the government decided to remove the 100% guarantee of the deposits at Northern Rock. Savers received 3 months notice