Former Rock boss tells of failings at top level, by Peter Edwards
“The Northern Rock manager who held a top Yorkshire role in the stricken bank has laid bare the internal failings of his former employer. Brian Walters, who was the Newcastle bank’s senior commercial lending manager for Yorkshire, also attacked the tripartite system of regulation which failed to prevent the first run on a UK bank for 141 years.
Now the 54-year-old, who left the Rock earlier this year to join another building society, has written a book, ‘The Fall of Northern Rock: An insider’s story of Britain’s biggest banking disaster.’ In it he describes the time he spent at the Rock, which he joined in 2005, its growth, the run on the bank, the attempted takeovers by Sir Richard Branson’s Virgin Group and by the Rock’s own board, and how it was nationalised, or taken into “a temporary period of public ownership”, in February this year.”
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