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Barclays' Hoffman new CEO of Northern Rock
Thu, 28 Aug, 2008
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Barclays' Hoffman new CEO of Northern Rock
Wed, 23 Jul 2008, 11:51:00
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Gary Hoffman, the vice chairman of <b>Barclays</b>, has been named chief executive of nationalised mortgage lender <b>Northern Rock</b>.<br /><br />Hoffman, who has been with Barclays since 1982, will leave the bank on 31 August and will replace Northern Rock's current chief executive Andy Kuipers from the start of October.<br /><br />Ron Sandler, who was appointed as executive chairman when the government took control of Northern Rock, will become non-executive chairman.<br /><br />"This is a unique opportunity for Gary to lead a household name in financial services at a difficult time in its history," said Barclays' chief executive John Varley.<br /><br />"The opportunity to help lead Northern Rock back to strength is both compelling and exciting. I will be sad to leave Barclays but look forward very much to joining Northern Rock in October," Hoffman added.
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