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
Nationalisation of Northern Rock late 2008 the bank sold Kingston Park stadium to Northumbria University for an undisclosed fee. On 18 January 2010 Northern Rock announced that they had signed a new 4 year sponsorship deal with Newcastle United, worth between £1.5 million and £10 million, starting from the 2010/11 season. The sponsorship agreement with the Newcastle Falcons came to an end before the start of the 2010/11 season. At the time of its nationalisation, Northern Rock was developing two new offices. At its headquarters at the Regent Centre complex in Gosforth, Newcastle upon Tyne the bank was midway through construction of a 10-storey