Staid and uninspiring is the Daily Telegraph’s take on former
Alliance & Leicester CEO Richard Pym. But the freshly appointed chief
executive of Bradford & Bingley, on a salary of £750,000 and a bonus package
pushing it towards £1m, is probably the only thing the stricken lender has to
make a song and dance about.
Pym, who hit the corporate big-time in 1992 when he joined A&L as finance
director from previous FD jobs at Burton Group companies, comes out of
retirement after almost three-quarters of a £400m rights issue was ignored by
shareholders and left with the underwriters.
Pym’s reputation is as a safe pair of hands, who will focus on fundamentals
at B&B and cut the sexy stuff. “He is expected to focus on costs and on
managing Bradford & Bingley’s riskier specialist loans,” said The
The Guardian said one criticism that could be levelled at Pym was
that he was “too pedestrian” in his time at A&L. Perhaps classic ‘boring’
accountants will finally have their day amid the crunch.
Wolseley is to cut up to 800 UK jobs and close around 80 branches costing the company about £100 million, the plumbing and heating supplier said on Tuesday despite reporting rising sales and profits
GoCompare is to demerge from esure and and be floated on the London Stock Exchange with the aim of boosting growth and performance
Three former Tesco executives, including the former finance director of Tesco UK, have been charged with fraud in relation to a £263m accounting scandal at the supermarket chain
Co-operative Group is trialling a new blockchain technology that can be used to track food from source to ensure its authenticity and sustainability