Northern Rock Gary Hoffman transforms £ 500,000 "golden goodbye."
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Mr. Hoffman, set to receive ￡ 350,000 more benefits from State-controlled lender for accepting does not work for six months, said Friday that he would not collect a portion of it.
The banker, who was nicknamed gardener more expensive Great Britain told the Daily Telegraph: "it was never my intention to take six months gardening leave and certainly never my intention to sit at home are paid by the taxpayer do nothing."
He added: "I reflected throughout the night and called Ron Sandler [Chairman of Northern Rock] in the morning and it said I would not take any payment while I'm gardening leave."
Mr. Hoffman, who quit smoking to join NBNK, one of the newcomers on the banking market, said that he had not discussed his decision with someone else to Northern Rock or the community insists on the fact that he had "are not any pressure" to drop the package.
However, referring to public anger on the pay-off of the Royal Bank of Sir Fred Goodwin Scotland, Mr. Hoffman said: "I feel bankers are often tarred with the same brush."I just felt that it was the best thing to do. ?
The pay-off, which consisted of ￡ 140,000 contributions to pension funds of ￡ 6,000 in allocation of car with gasoline, was described by M. Sandler, Mr. "minimum contractual right Hoffman.".But it was met with dismay throughout the country.
Join, union, said that he was "disgusted" with the "Golden farewell".Brian Cole, officer of the unit, said: "the price of half a million pounds for Mr. Hoffman put his feet is punched in the stomach for 2,500 employees of Northern Rock, sacked by Northern Rock for the last two year."
The contract has been designed to ensure that Mr. Hoffman did not compete with Northern Rock at its new emploi.NBNK, which is chaired by the Chairman of Lloyd s of London Lord Levene was a tip as a likely bidder parts of Northern Rock.
Mr. Hoffman, who is credited with rescue and turning around Northern Rock, since he was hired to Barclays in 2008, says that it is always prohibited to work for six months.
He said that there are no plans to time libre.Il said: "I'll be looking through Coventry versus Leeds premiere place.Et I spent about two years away from my family, it is nice to see them again."
