tag:blogger.com,1999:blog-7466643334422987322.post2307789701774608491..comments2024-03-06T14:39:11.053+00:00Comments on Calum Cashley: Banks and cash-for-peeragesAnseohttp://www.blogger.com/profile/09107667224537870586noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7466643334422987322.post-75031143124871288642008-12-07T20:36:00.000+00:002008-12-07T20:36:00.000+00:00Once you're in ...Once you're in ...Calum Cashleyhttps://www.blogger.com/profile/01059728094634130387noreply@blogger.comtag:blogger.com,1999:blog-7466643334422987322.post-20666898258887398102008-12-07T12:23:00.000+00:002008-12-07T12:23:00.000+00:00You make an interesting comment about Derek Wanles...You make an interesting comment about Derek Wanless. Plain Derek was ousted from NatWest in 1999 following disastrous strategic decisions. NatWest was severely weakened which led to the hostile take over by RBS - the rest is now history. Despite his failings at NatWest, plain Derek was commissioned by Gordon Brown to write the NHS Funding Report (which set GP's up for life with gold plated contracts).For acting as Brown's stooge, plain Derek srose as Sir Derek. Sadly, the Knighthood did not improve his poor judgement. Sir Derek was a Non-Exec' and Head of Risk at Northern Rock. He was severely lambasted, and deemed culpable, by the Treasury Select Committee for "not doing your job Sir Derek". Amazingly, despite overseeing the costliest actuarial faux pas in Banking history, Sir Derek Wanless retains his seat on the Government's Board for Actuarial Standards. The latter is part of the FRC, and appointments are authorised by the Secretary of State for BERR. You guessed it ! Lord Mandelson. This week Sir Derek Wanless and his fellow members on the BAS have released a new paper. It promotes prudent standards for Corporate Heads to use when assessing risk scenarios. Sir Derek's input must have been invaluable !!Anonymousnoreply@blogger.com