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Product Description
Product Description
Some of the most memorable images of 2007 - if not of the decade - are those of people queuing outside branches of Northern Rock to withdraw their money. They are images from another age, or from another country, surely this could not have happened in the UK in the twenty-first century! But this is not how Brian Walters - author of 'The Fall of Northern Rock' - remembers the bank. He, and likely many other employees, remember it as a good place to work, and is proud of its success and its role as the largest private sector employer in the north-east of England. This book is his inside story of the rise of Northern Rock, becoming one of the most respected and envied financial institutions in the UK, and its subsequent spectacular collapse. The book tells of his personal experiences at Northern Rock before, during and after the crisis, and comments on the events that unfolded around him and what impact they had on the business and the people within it. This first-hand account also explores the causes of the crisis and whether it could have been avoided. 'The Fall of Northern Rock' is essential reading for anyone wanting to understand the story behind the first run on a British bank since 1866 - images of which sent shockwaves through the financial system and around the world.
About the Author
Brian Walters has worked in the banking industry for 36 years, having started his career at Barclays in 1971, moved up to the role of Corporate Manager in Coventry in 1992, and then moved to Leeds in 1999 as Head of Small Business for West Yorkshire. He joined Northern Rock in 2005 to manage the Yorkshire based Commercial Property Division and was there throughout the turmoil of 2007, but left in early 2008 to join a major building society as a Commercial Property Manager Brian lives in Harrogate with his wife and family.
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Customer Reviews
Most Helpful Customer Reviews
7 of 7 people found the following review helpful
What an awful book! This would never have got anywhere near published if it weren't for the exploitation of the special circumstances. Walters quite obviously has almost no knowledge of the organisation - I do (yes I work for them and know 1000% more than this guy and yet would still not be able to write a reliable book of events). He misses so many points - running into dozens - that are so fundamental to what went wrong, but known only to insiders, that he cannot possibly be relied on. He never mentions individuals, except the highest profile. He attributes all sorts of feelings to Adam Applegarth - they may well be correct - but he has no way of knowing as he appears to have done almost no research. He didn't speak to me, or anybody I know, so where does he form his opinion.
Ex banker thinks network staff know more than HO staff. He's wrong. He's probably confusing seeing the symptoms (for example, bad customer service) with understanding the causes - something that cannot be done from outside the head office environment. Though Walters wasn't even really part of the network anyway - he spent a short time in a very marginal and shrinking section of the business, geographically remote from where the important decisions were being taken.
Ex banker thinks network staff know more than HO staff. He's wrong. He's probably confusing seeing the symptoms (for example, bad customer service) with understanding the causes - something that cannot be done from outside the head office environment. Though Walters wasn't even really part of the network anyway - he spent a short time in a very marginal and shrinking section of the business, geographically remote from where the important decisions were being taken.
5 of 5 people found the following review helpful
Having worked at NR for over 12 years, most of that time as an insider, I'm truly baffled as to how someone I've never even heard of can know so much! Avoid!
4 of 4 people found the following review helpful
Hard to say how this was an insiders story. The author having only worked for NR for less than 3 years, can hardly know the ins and outs of the company. Quite a large portion of the book is dedicated to his own self promotion, in his role. Similarly, being only middle management, did not have access to management information about the crisis. Much of the information presented, was at best anectodal from news reports or simply taken from publications in the public domain, such as treasury select committee minutes and FSA publications. Likewise the author can't really give a full story, there is still much more to tell. His story ends, when the real story begun. A rat jumping a sinking ship and simply wanting to 'cash in'.
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Most Recent Customer Reviews
Insiders View........Not Quite
An insiders view this isn't. This guy held a middle management position in commercial lending. So his involvement and more importantly awareness of what was happening was revealed... Read more
Published on 12 Jun 2009 by Robert Morrish
Better than some people think
Some comments made on this book by Northern Rock insiders mistake it's purpose and the author never claims to have been at the centre of affairs. Read more
Published on 11 Sep 2008 by Rw Lawson
I agree
with rats, ships, & cashing in, as another reviewer has described this book. Avoid & read a financial newspaper or a like review of events in NR & be better informed.
Published on 2 Sep 2008 by Terence Wallis
northern rock
very readable account of the northern rock crisis - written from an insider`s perspective - jargon free, layman friendly.
Published on 24 July 2008 by Peter P. Turner
Ex-Banker
A really good read. Having spent many years working in Banking, both in a branch network and Head Office, in my experience the Network staff often have at least as much, if not... Read more
Published on 13 Jun 2008 by Ex-Banker
An Inside Story? Or perhaps not
How can this be a true insider's story? The author did not work at Northern Rock Head Office or have access to executive management so a lot of the detail on the run on the Bank... Read more
Published on 30 May 2008 by Still at the Rock
Great Read
An excellent insight into the events leading up to the downfall of Northern Rock. Brilliantly described first-hand account and would highly recommend the book to all.
Published on 30 May 2008 by Mr. J. A. Winston
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