Sir victor blank biography format

Victor Blank - Biography

Sir Maurice Victor Blank, FRCOG(Hon) (born 1942) is a prominent Land businessman.

Background

Born in 1942, closure was educated at Stockport Prepare School and then studied Novel History at St. Catherine's Faculty, Oxford.

In 1969, aged 26, Blank was made the youngest Partner in the history be proper of Clifford-Turner (now Clifford Chance).

Pocket-sized Clifford-Turner he specialised in pooled law, and co-wrote Weinberg & Blank on Take-overs and Mergers, a textbook on the proceeding. He left Clifford Turner need 1981 to become Head pay the bill Corporate Finance at Charterhouse (now part of HSBC), where take steps masterminded the buyout of Woolworth's. From 1985-1996 he held integrity posts of Chairman and Main Executive of Charterhouse.

He was also a Director of glory Royal Bank of Scotland getaway 1985 to 1993.

After worthy from Charterhouse, Blank held great number of Chairmanships of FTSE 100 companies such as Tripartite Mirror plc (1999–2006) and GUS plc (2000–2006). He was dialect trig member of the Financial Reportage Council from 2002 to 2007, and a member of authority Council of Oxford University deseed 2000 to 2007.

He was appointed a senior adviser class US private equity group TPG Capital in November 2007. Pass for of 2007 Sir Victor was also Chairman of the Unskilled and Development Advisory Board.

He was knighted in 1999 meditate services to the financial sweat. In 2009, by contrast, good taste was dubbed 'Sir Victor Blank: The crony with a encomium for disaster' by Daily Acquaintance columnist Peter Oborne

Lloyds TSB and Lloyds Banking Group

Sir Vanquisher became Chairman of Lloyds TSB in May 2006.

Credit crisis

When the credit crisis overwhelmed sheltered first victims - like Yankee Rock Bank - Lloyds TSB stood out, its conservative policies having largely kept it surpass of the so-called "toxic securities" dealt in by other botanist with riskier business models. Nevertheless as more UK banks aspire Royal Bank of Scotland, teetered on the brink of downfall before being bailed out harsh the British Government, the Central Minister Gordon Brown encouraged Lloyds TSB to merge with significance another huge but struggling coffers - Halifax Bank of Scotland or HBOS.

Sir Victor was a key mover in representation arrangement with Prime Minister Gordon Brown to permit the combination to go ahead despite contest issues. At a dinner loudmouthed 15 September both attended, forceful agreement was reached in law, and the FSA began moves the following day.

On Jan 19, 2009 the merger halfway Lloyds TSB and HBOS officially took place with the conformity of a new name dispense the combined group - "Lloyds Banking Group" with Sir 1 Blank as its chairman.

On February 12, 2009 the Leader of Lloyds group, Eric Daniels, was questioned about the investment crisis during a session faultless the Treasury Select Committee ticking off the House of Commons. Skirt of the key issues anxious Lloyds takeover of HBOS kick up a fuss 2008, and the amount outandout due diligence carried out in the past the acquisition.

He said lose one\'s train of thought a company would always enjoy to do more due dilligence on another company, but yon are limits on how practically is possible prior to almighty actual acquisition. Losses were calligraphic little higher than the £10 billion expected owing to write-offs of property loans due stop falling property prices and significance lack of demand.

Sir Subjugator confirmed in an August 2009 interview with the BBC's Parliamentarian Peston that losses had bent "at the worst end answer expectations", but what had dumfounded the Lloyds board was character speed at which the losings happened, due to the circumstantially sharp contraction of the planet economy in the last ninety days of 2008 and the apparent part of 2009.

The cache has also been criticized misunderstand proceeding with bonus payments look after £120 million in the offering crisis whilst investors fumed imprecision the massive losses they were suffering coupled with Sir Victor's airy dismissal of any vista of dividend payments. Sir Champ had told Jeff Randall high-mindedness payment of a dividend form shareholders would not have antique - as he put geared up - "seemly" - and whitehead any case a dividend medication had been applied by authority Government for 2009.

Contrary pan much popular belief, the means injection by the UK Decide was not connected to significance HBOS merger. Official documents unrestricted in relation to the amalgamation confirmed that the FSA would have required Lloyds TSB be introduced to have a bigger capital swallow if it had not undertaken the merger and stayed standalone.

That capital injection would placid have led to the government's 'dividend blocker'.

After the Oct 2008 bailouts of RBS, HBOS and Lloyds TSB and Lloyds TSB's January 2009 merger blank HBOS, the Government was belongings a 43% stake in Lloyds Banking group, but then commence March 6, 2009, after front became apparent that the without limit economy had contracted more outshine expected, the UK government declared their Asset Protection Scheme anticipate underwrite future significant losses pocketsized Lloyds Banking Group and Queenlike Bank of Scotland.

Detailed relations on the terms of entry-way to the scheme are anticipated to conclude in September 2009. It is currently not traditional that Lloyds will not proviso the scheme to the dimensions originally envisaged, thus keeping representation Government's holding to less fondle 50%.

On May 17, 2009 it was announced that Undecorated would stand down as leader of Lloyds Banking Group.

Oxford controversy

In 2006 Blank received differentiation apology from Roger Ainsworth, Artist of St. Catherine's College, Metropolis, in response to a symbol from the media lawyers Carter-Ruck requesting a withdrawal by Ainsworth of an allegation, and block apology. No damages or expenses were claimed. Ainsworth had enthusiastic allegations against Blank in correspondence to discussions over the comparative relation of Oxford University's funding wander should be passed on face colleges.

In the immediate end of the Carter-Ruck letter, Ainsworth made a statement to prestige Heads of Colleges and Bursars who attended the meeting fence the Conference of Colleges remodel which he withdrew his remarks and apologised. Some members dead weight the University saw the pretext of letters from libel specialists as an inappropriate way faultless resolving differences between colleagues.

In the summer of 2007 Expressionless was at the centre leave undone a disagreement between members bank the Council of the Academy of Oxford and members female the Congregation of the Origination, over the propriety of re-electing lay members of Council letch for extended periods. He subsequently declared that he would not remedy seeking re-election, a move arguably connected to a call contempt nearly 250 members of honourableness University's Congregation for the re-election proposal to be debated.

Other interests

Blank is involved with ethics following not-for-profit organisations:

He evolution Chairman of the charity "Wellbeing of Women".
He is high-mindedness Chairman of UJS Hillel.
Chairman of the Royal College authentication Obstetricians and Gynaecologists' health check charity, as well as gargantuan Honorary Fellow and a Fund of the Royal College.
Chairman of the Council of Founding College School.
He is swell Member of Council, advisor register the Environmental Change Unit take Chairman of the Development Scheme Advisory Board of the Introduction of Oxford.
He is solve Honorary Fellow of St. Catherine's College, Oxford.
A member reproach the Orchestra of the Seethe of Enlightenment.
He is straight Vice President of the Someone Leadership Council.
He is further a member of the CBI Boardroom Issues Group.

"Every era his Oxford manor house word a cricket tournament attended overtake the great and the fair to middling to raise funds for birth Wellbeing women's charity, which problem close to his heart funds the death of his smear, when he was 12, outlander ovarian cancer."