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Pym to stay on at B&B (From Bradford Telegraph and Argus)
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Pym to stay on at B&B
10:41am Thursday 2nd October 2008
Richard Pym, the man brought in to try to sort out Bradford & Bingley’s problems, now finds himself working for the Government after the nationalisation of B&B’s mortgage business.
It was confirmed that Mr Pym, the former boss of Alliance & Leicester, would stay in post to help the Treasury deal with B&B’s loan book.
According to a national report, if he should leave early Mr Pym, who joined B&B in August, would receive two years’ basic salary totalling £1.5m together with a £300,000 cash bonus for 2008.
It is also reported that a former B&B finance director, Rosemary Thorne, may offer advice on how to integrate her old company into Spanish banking group Santander.
B&B crisis special - click here
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