Ron Sandler


Ron Sandler

Ron Sandler is the government-appointed Executive Chairman of Northern Rock. [ [http://news.bbc.co.uk/1/hi/business/7249858.stm Rock recovery is Sandler's goal] , BBC News, 17 February 2008]

Sandler was born in Bulawayo, Southern Rhodesia (now Zimbabwe) in 1952 and has an undergraduate degree in engineering [ [http://www.guardian.co.uk/business/2002/jul/10/sandlerreview.saving3 When a crisis looms, call on Ron] "The Guardian" July 10, 2002. Retrieved: February 20, 2008.] from Queens' College, Cambridge and an MBA from Stanford University [http://www.hm-treasury.gov.uk/newsroom_and_speeches/press/2008/press_16_08.cfm Northern Rock plc] , HM Treasury, February 17, 2008] .Sandler had previously been Chief Executive at Lloyd's of London [http://news.bbc.co.uk/1/hi/business/7184813.stm Treasury lines up new Rock boss] , BBC News, 12 January 2008] from 1995 until 1999. Sandler spent the period between October 1999 and March 2000 as a director and chief operating officer of NatWest bank, unsuccessfully attempting to defend it during its 1999 takeover, on a salary of £450,000 [ [http://www.guardian.co.uk/money/2002/jul/09/saving.sandlerreview2 Profile: Ron Sandler] , guardian.co.uk, Tuesday July 9 2002] . Sandler resigned following the takover of NatWest bank by the Royal Bank of Scotland, joining the board of Computacenter as a non-executive director on May 26, 2000 [ [http://www.computacenter.com/press-releases/archive/pr042.asp Ron Sandler Appointed as Non-Executive Director] , Computacenter plc press release, June 1, 2000. Retrieved: April 13, 2008] . In March 2001, Sandler succeeded Computacenter co-founder Philip Hulme as Chairman of the board [ [http://www.computacenter.com/press-releases/archive/pr060.asp Computacenter plc Preliminary Results Announcement 2000] , Computacenter plc press release, March 14, 2001. Retrieved: April 13, 2008] . In June 2001 the then chancellor Gordon Brown asked Sandler to carry out a review of the savings industry, known as the "Sandler Review" [ [http://www.hm-treasury.gov.uk/documents/financial_services/savings/fin_sav_sand.cfm Sandler Review] , HM Treasury, 9 July 2002] . The report, published in 2002, called for a simplified range of savings products with a reduced level of commission, but its conclusions were rejected by the Treasury [ [http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2004/10/13/npens413.xml Seven years of dithering] "The Daily Telegraph" October 12, 2004. Retrieved: February 20, 2008.] .

Whilst Chief Executive of Lloyd's, an 'educational briefing' fee (reimbursement of legal fees incurred), was paid by Lloyd's to the then California Insurance Commissioner in order that he should assist Lloyd's in preventing the prosecution of Lloyd's by the California State Attorneys Office for the sale of “unregistered securities” to US Resident Names or investors [ [http://www.truthaboutlloyds.com/news/news_lat_031401.htm Probe Looks at Lloyd's-Quackenbush Link] "Los Angeles Times" March 14, 2001. Retrieved: February 20, 2008.] .

He was appointed by the Treasury on 12 January 2008 to be the Chairman of Northern Rock ; a position which he assumed on 18 February 2008, resigning from his role as Non-executive Chairman and member of the board at Computacenter at the same time [ [http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=1713391&source=RNS Directorate Change] , Regulatory Announcement, February 18, 2008. Retrieved: April 13, 2008] . His salary for Northern Rock was reported as £90,000 per month. Sandler is not domiciled for personal tax purposes in the United Kingdom, holding a German passport [ [http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2008/02/20/nrock320.xml 'Non-dom' Ron Sadler runs Northern Rock] "The Daily Telegraph" February 20, 2008. Retrieved: February 20, 2008.] .

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