Top Nat West men resign
The chairman and three directors of Britain’s biggest bank, National Westminster Bank, resigned on Tuesday, the latest casualties in a scandal which has rocked London’s financial world. The bank said the chairman, Lord Boardman, and the three directors, Messrs Charles Green, Terry Green and John Plastow, had quit after a Government report accused a Nat West subsidiary of misleading the stock market in the wake of the successful takeover in 1987 of Manpower, of the United States, by British employment agency, Blue Arrow. The Department of Trade and Industry’s case alleges that County Nat West attempted to conceal the failure of a £837 million (SNZ2344M) share issue, carried out for the Blue Arrow agency just two months before the October, 1987, stock market crash, by illegally taking the shares on board its own subsidiaries rather than selling them to sub-underwriters.
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Press, 27 July 1989, Page 36
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145Top Nat West men resign Press, 27 July 1989, Page 36
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