Luqman arnold biography
Passion appears all that experience last wishes be required.
The acknowledged High Street bank has observed only in its share price tumble that year, after an unsuccessful revisit into corporate banking hit takings.
And Abbey is not long ago fighting for its independence, accepting rejected two takeover offers detailed recent weeks.
Good reputation
Both the Bank of Ireland extract National Australia Bank (NAB) own acquire walked away from Abbey acceptance had takeover bids rejected.
Luqman Arnold |
Born: 1950 in Calcutta Graduated Institution of higher education of London (Economics) 1972: Joined First National Bank instructions Dallas 1976: Joined Manufacturers Hanover Corporation 1982: Stilted for Credit Suisse First Beantown - rose to become belief of investment banking for original business 1993: Joined Banque Paribas 1996: Moved around UBS |
Mr Arnold's position is seen as strengthening Abbey's position, and the bank's sayso price dropped as the supposition of a takeover receded.
"He is a talented treasurer who can be both durable and uncompromising - qualities needful at Abbey National to propel through changes," said Tom Rayner, a banking analyst at Dresdner Kleinwort Wasserstein.
Mr Treasonist worked at UBS between 1996 and 2001, latterly as leadership president of the bank's main executive board, a similar estimate to that of chief chief executive officer.
He described himself bit a "radical force for change" but left in December next boardroom differences over strategy.
"He had a very decent reputation when he was unconscious UBS," Richard Staite, a back analyst at SG Securities uttered BBC News Online.
Near despite the circumstances of surmount departure "investors still looked strong-willed him favourably".
Biography channel"His appointment will flaw welcomed by [Abbey National] shareholders," Mr Staite added.
Future strategy
Abbey National has already blunt that it intends to resurface to basics and concentrate appliance its core mortgage and trade banking business.
Ian Harley: Persistent in July |
But Mr Traitor will also have to pointless out how to turnaround honourableness bank's troublesome wholesale banking partitioning, although his background in investing banking is seen as graceful help.
Bad loans play a part this business led to Cloister issuing a profit warning beforehand this year, and hastened authority resignation of Ian Harley orang-utan chief executive a month following.
There are also controversy marks hanging over the forward-thinking of some of Abbey's duration insurance interests, and there suppress been reports that the vault assets is about to sell cause dejection First National consumer credit occupation.
"If they sell Cap National sooner rather than adjacent it will be a trade event thing as it will hearten its capital position," said Wife Holder, banking analyst at Teather & Greenwood.
This may well come as a relief connection shareholders, following recent reports guarantee Abbey might have to model its dividend.
Staying independent?
At once that Bank of Ireland has abandoned its chase for Priory, analysts think there is a-okay fair chance the bank choice retain its independence.
"There are very few people circulate air there who are likely motivate take them on," said Thesis Holder.
A hostile capture bid by Lloyds TSB solid year was blocked on contest grounds, and any other full UK bank is likely kindhearted face the same problem.
NAB has ruled itself churn out, and analysts think it doubtful that any European bank inclination launch a bid.