Adam Applegarth, Northern Rock’s chief executive, has left the bank. He will be replaced by Andy Kuipers, subject to the UK Financial Services Authority’s approval.Applegarth had worked at Northern Rock for 24 years. He leaves after a troubled third quarter at the bank, which struggled to find funding when one of its main sources of income - the short-term money markets - was hit by a lack of liquidity in August and September.
Before Kuipers' appointment as chief executive, he was responsible for the co-ordination and direction of the company's sales, marketing, products, pricing and retention activities. Kuipers joined Northern Rock in 1987, having previously worked in banking in Holland. He was appointed to the board of Northern Rock as an executive director in January 2005.
Sign up for Risk.net email alerts
Singapore, 22nd - 23rd Jul 2014
Australia, 12th - 13th Aug 2014
UK, 10th - 12th Sep 2014
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.