First Among Equals
“Charles had no intention of being the chairman who presided over its demise in the seventies.
Soon after taking over from Derek Spencer-at the board’s unanimous insistence-Charles discovered that being chairman wasn’t quite as relaxed a job as he had expected. He lacked the knowledge and expertise to run Hampton’s on a day-to-day basis.
While Charles remained confident that the bank could ride the storm, he wasn’t taking any risks. The business news sections of the newspapers were full of stori...es of the Bank of Englapd’s acting as a “lifeboat” and having to step in to assist ailing financial institutions, along with the daily reports of the collapse of yet another property company. The time when property values and rents automatically increased each year had become a thing of the past.
When he had accepted the board’s offer, Charles insisted that a chief executive be appointed to carry out the professional business while he remained the man with whom other City chairmen dealt.MoreLess
Soon after taking over from Derek Spencer-at the board’s unanimous insistence-Charles discovered that being chairman wasn’t quite as relaxed a job as he had expected. He lacked the knowledge and expertise to run Hampton’s on a day-to-day basis.
While Charles remained confident that the bank could ride the storm, he wasn’t taking any risks. The business news sections of the newspapers were full of stori...es of the Bank of Englapd’s acting as a “lifeboat” and having to step in to assist ailing financial institutions, along with the daily reports of the collapse of yet another property company. The time when property values and rents automatically increased each year had become a thing of the past.
When he had accepted the board’s offer, Charles insisted that a chief executive be appointed to carry out the professional business while he remained the man with whom other City chairmen dealt.MoreLess
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