01 Jul 2011
View the full press release [PDF size 74KB].
UK Asset Resolution Ltd (“UKAR”) announces the appointment of Phillip McLelland, Finance Director, to the Boards of UKAR, Bradford & Bingley plc and Northern Rock (Asset Management) plc with effect from 1 July 2011. Mr McLelland has been Finance Director of UKAR since establishment in October 2010, prior to which he was Financial Director at Bradford & Bingley plc.
NOTES TO EDITORS
UKAR is the holding company established on 1 October 2010 to bring together Bradford & Bingley plc (“B&B”) and Northern Rock (Asset Management) plc (“NRAM”). Although managed under a single board and management structure, B&B and NRAM remain separate legal entities and continue to be operated as individual companies with their own individual brands and balance sheets, supporting almost 850,000 customers. UKAR is 100% owned by the UK Government.
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We note the Ministerial statement made today by the Economic Secretary to the Treasury regarding customers of Northern Rock (Asset Management) plc (NRAM) who have loan accounts which are regulated under the Consumer Credit Act (CCA).
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