Ron Sandler

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Ron Sandler is the government-appointed Executive Chairman of Northern Rock. [1]

Sandler was born in Bulawayo, Southern Rhodesia (now Zimbabwe) in 1952 and has an undergraduate degree in engineering [2] from Queens' College, Cambridge and an MBA from Stanford University [3].Sandler had previously been Chief Executive at Lloyd's of London [4] 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 [5]. 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 [6]. In March 2001, Sandler succeeded Computacenter co-founder Philip Hulme as Chairman of the board [7]. In June 2001 the then chancellor Gordon Brown asked Sandler to carry out a review of the savings industry, known as the Sandler Review [8]. 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 [9].

 The factual accuracy of this section is disputed.
Please see the relevant discussion on the talk page.(March 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 [10].

He was appointed by the Treasury on 12 January 2008 to be the Chairman of Northern Rock [4]; 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 [11]. His salary for Northern Rock was reported as £90,000 per month[3]. Sandler is not domiciled for personal tax purposes in the United Kingdom, holding a German passport [12].

[edit] References

  1. ^ Rock recovery is Sandler's goal, BBC News, 17 February 2008
  2. ^ When a crisis looms, call on Ron The Guardian July 10, 2002. Retrieved: February 20, 2008.
  3. ^ a b Northern Rock plc, HM Treasury, February 17, 2008
  4. ^ a b Treasury lines up new Rock boss, BBC News, 12 January 2008
  5. ^ Profile: Ron Sandler, guardian.co.uk, Tuesday July 9 2002
  6. ^ Ron Sandler Appointed as Non-Executive Director, Computacenter plc press release, June 1, 2000. Retrieved: April 13, 2008
  7. ^ Computacenter plc Preliminary Results Announcement 2000, Computacenter plc press release, March 14, 2001. Retrieved: April 13, 2008
  8. ^ Sandler Review, HM Treasury, 9 July 2002
  9. ^ Seven years of dithering The Daily Telegraph October 12, 2004. Retrieved: February 20, 2008.
  10. ^ Probe Looks at Lloyd's-Quackenbush Link Los Angeles Times March 14, 2001. Retrieved: February 20, 2008.
  11. ^ Directorate Change, Regulatory Announcement, February 18, 2008. Retrieved: April 13, 2008
  12. ^ 'Non-dom' Ron Sadler runs Northern Rock The Daily Telegraph February 20, 2008. Retrieved: February 20, 2008.
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