RON SANDLER, the man recruited to run Northern Rock if it is nationalised by the UK government, has been described as a ’safe pair of hands’ by a personal friend in Guernsey. Sarasin Bank managing director Ken Gibbs has known Mr Sandler for some years and brought him to Guernsey in 2006 to be guest speaker at the annual Securities & Investment Institute dinner.
‘Ron Sandler is a very good man with a very fine brain,’ said Mr Gibbs.
‘He has an extremely enquiring mind and doesn’t let anyone get away with anything.
‘He is a man who is very much against rubber stamping and wants to understand everything, which is a good thing considering what needs to be done with Northern Rock.’
Mr Sandler is a former chief executive of Lloyd’s of London and was chosen in 2001 by then chancellor Gordon Brown to conduct a review of the UK savings industry.
Speaking at the SII dinner in 2006, he urged Guernsey to do all it could to encourage financial literacy.
He said that islanders needed to be better informed about products and how they could be of benefit to them and the island.
‘Obviously Ron Sandler has done a good job for the UK government over the years and he has a proven track record,’ said Mr Gibbs.
‘That’s why they have chosen him for the job of turning Northern Rock around should it fall into the government’s hands and to my mind he is the best man for the job.
‘I haven’t talked to him about it yet, but I’ll certainly give him a call once a decision about the bank’s future is decided.’
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