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Departure of Mr. Hoffman should be announced the week after a weekend meeting next to discuss his future with Northern Rock, which he directs since 2008.

Speculation was widespread in recent days that Mr. Hoffman is the leading candidate to work from the Chief Executive in NBNK banking startup headed by Lord Levene, Chairman of popular London Lloyd.

Departure of Mr. Hoffman would Ron Sandler, President of non-executive of Northern Rock, back at the helm of the lender in the meantime. Sandler has led the lender has failed in the months after his multi-
bailout State billion pounds.

Northern Rock has refused to comment on whether the departure of Mr. Hoffman was imminent and said that he remains Chief Executive .NBNK refused to comment on.

Mr. Hoffman was credited with the spectacular Northern Rock, which earlier this year was able to remove the guarantee deposit emplaced in the aftermath of a race on the rive.Il Government also led the separation of Northern Rock in a "good Bank" consisting of operations continue turnaround of the company and a "bad bank" toxic assets that can be executed several years.

Before joining Northern Rock, Mr. Hoffman has worked to Barclays, where he was Group Vice President and Executive Director, who joined the Bank as a graduate in 1982.

If it were to join NBNK, it can lead to a situation in which it could lead to a call for tenders for the parts of the Northern Rock sold by the Government of the reprivatization of nationalised banks.

Northern Rock Plc, which consists of the assets of the "good Bank", is held by UK Financial Investments (UKFI), who also holds State holdings in Lloyds Banking Group and Royal Bank of Scotland.UKFI has a mandate to manage the sell-off of these farms, and the sale of Northern Rock Plc is a large part of its work.

Northern Rock Asset Management (NRAM), part "bad bank" company was transferred to another organisation, UK Asset resolution.

NRAM portfolios will be merged with the now defunct lender Bradford & Bingley, which was nationalized around the same time as Northern Rock, the trouble after toxic assets during the financial crisis.

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