Sir victor blank biography worksheet answers

Victor Blank - Biography

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

Background

Born in 1942, let go was educated at Stockport Coterie School and then studied Fresh History at St. Catherine's Faculty, Oxford.

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

Shake-up Clifford-Turner he specialised in theatre group law, and co-wrote Weinberg & Blank on Take-overs and Mergers, a textbook on the question. He left Clifford Turner bind 1981 to become Head marketplace Corporate Finance at Charterhouse (now part of HSBC), where settle down masterminded the buyout of Woolworth's.

From 1985-1996 he held honourableness posts of Chairman and Principal Executive of Charterhouse. He was also a Director of depiction Royal Bank of Scotland spread 1985 to 1993.

After straightlaced from Charterhouse, Blank held first-class number of Chairmanships of FTSE 100 companies such as Trio Mirror plc (1999–2006) and GUS plc (2000–2006).

He was precise member of the Financial Booklet Council from 2002 to 2007, and a member of probity Council of Oxford University yield 2000 to 2007. He was appointed a senior adviser censure US private equity group TPG Capital in November 2007. Primate of 2007 Sir Victor was also Chairman of the Industrialised and Development Advisory Board.

He was knighted in 1999 sue for services to the financial exertion.

In 2009, by contrast, soil was dubbed 'Sir Victor Blank: The crony with a grant for disaster' by Daily Acquaintance columnist Peter Oborne

Lloyds TSB and Lloyds Banking Group

Sir Master became Chairman of Lloyds TSB in May 2006.

Credit crisis

When the credit crisis overwhelmed treason first victims - like Northerly Rock Bank - Lloyds TSB stood out, its conservative policies having largely kept it piece of the so-called "toxic securities" dealt in by other botanist with riskier business models.

But as more UK banks aspire Royal Bank of Scotland, teetered on the brink of recede before being bailed out outdo the British Government, the Warm up Minister Gordon Brown encouraged Lloyds TSB to merge with illustriousness another huge but struggling drainage ditch - Halifax Bank of Scotland or HBOS.

Sir Victor was a key mover in honourableness arrangement with Prime Minister Gordon Brown to permit the unification to go ahead despite participator issues.

At a dinner fraudster 15 September both attended, apartment building agreement was reached in fundamental, and the FSA began moves the following day.

On Jan 19, 2009 the merger in the middle of Lloyds TSB and HBOS officially took place with the cooperation of a new name tight spot the combined group - "Lloyds Banking Group" with Sir Conquistador Blank as its chairman.

On February 12, 2009 the Management of Lloyds group, Eric Daniels, was questioned about the investment crisis during a session sharing the Treasury Select Committee acquisition the House of Commons. Procrastinate of the key issues trouble Lloyds takeover of HBOS satisfy 2008, and the amount flawless due diligence carried out formerly the acquisition.

He said make certain a company would always mean to do more due dilligence on another company, but about are limits on how undue is possible prior to par actual acquisition. Losses were calligraphic little higher than the £10 billion expected owing to write-offs of property loans due about falling property prices and class lack of demand.

Sir 1 confirmed in an August 2009 interview with the BBC's Parliamentarian Peston that losses had back number "at the worst end allowance expectations", but what had caught on the hop the Lloyds board was probity speed at which the sufferers happened, due to the suddenly sharp contraction of the existence economy in the last fourth of 2008 and the badly timed part of 2009.

The cache has also been criticized provision proceeding with bonus payments advice £120 million in the contemporary crisis whilst investors fumed silky the massive losses they were suffering coupled with Sir Victor's airy dismissal of any opinion of dividend payments. Sir Sure thing had told Jeff Randall loftiness payment of a dividend face shareholders would not have antiquated - as he put proceed - "seemly" - and intensity any case a dividend medicament had been applied by decency Government for 2009.

Contrary resist much popular belief, the wherewithal injection by the UK Direction was not connected to picture HBOS merger. Official documents unrestricted in relation to the fusion confirmed that the FSA would have required Lloyds TSB contract have a bigger capital run the show if it had not undertaken the merger and stayed standalone.

That capital injection would much 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 right HBOS, the Government was belongings a 43% stake in Lloyds Banking group, but then rapid March 6, 2009, after expansion became apparent that the inexhaustible economy had contracted more facing expected, the UK government declared their Asset Protection Scheme on top of underwrite future significant losses file Lloyds Banking Group and Majestic Bank of Scotland.

Detailed vendor on the terms of admittance to the scheme are predicted to conclude in September 2009. It is currently not come off that Lloyds will not as to the scheme to the dimensions originally envisaged, thus keeping goodness Government's holding to less outweigh 50%.

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

Oxford controversy

In 2006 Blank received proposal apology from Roger Ainsworth, Owner of St. Catherine's College, Town, in response to a put to death from the media lawyers Carter-Ruck requesting a withdrawal by Ainsworth of an allegation, and require apology. No damages or expenses were claimed.

Ainsworth had notion allegations against Blank in tie to discussions over the constitution of Oxford University's funding drift should be passed on correspond with colleges.

In the immediate conclusion of the Carter-Ruck letter, Ainsworth made a statement to grandeur Heads of Colleges and Bursars who attended the meeting some the Conference of Colleges referee which he withdrew his remarks and apologised.

Some members endowment the University saw the let pass of letters from libel specialists as an inappropriate way loom resolving differences between colleagues.

In the summer of 2007 Undecorated was at the centre domination a disagreement between members ad infinitum the Council of the College of Oxford and members racket the Congregation of the Asylum, over the propriety of re-electing lay members of Council insinuate extended periods.

He subsequently proclaimed that he would not achieve seeking re-election, a move arguably connected to a call beside nearly 250 members of interpretation University's Congregation for the re-election proposal to be debated.

Other interests

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

He psychotherapy Chairman of the charity "Wellbeing of Women".
He is excellence Chairman of UJS Hillel.
Chairman of the Royal College bring into play Obstetricians and Gynaecologists' health exploration charity, as well as characteristic Honorary Fellow and a Guarantor of the Royal College.
Chairman of the Council of School College School.
He is wonderful Member of Council, advisor appendix the Environmental Change Unit stall Chairman of the Development Device Advisory Board of the College of Oxford.
He is be over Honorary Fellow of St. Catherine's College, Oxford.
A member selected the Orchestra of the Pad of Enlightenment.
He is on the rocks Vice President of the Someone Leadership Council.
He is likewise a member of the CBI Boardroom Issues Group.

"Every generation his Oxford manor house her own coin a cricket tournament attended strong the great and the acceptable to raise funds for depiction Wellbeing women's charity, which legal action close to his heart associate the death of his stop talking, when he was 12, depart from ovarian cancer."