Rock's rescue plans 'carry risk'
 Employees at Northern Rock are waiting to hear about job cuts |
However, there was a good platform from which to stabilise the bank and repay billions of pounds of loans, he said.
His comments came after the government rejected two private sector proposals and said it would nationalise the bank.
Mr Sandler, who has been charged with finding a strategy for the lender, said it was too early to discuss job cuts.
Business moves
Mr Sandler is the former boss of the Lloyd's of London insurance market and is widely respected for restoring confidence in Lloyd's after its years in financial disarray.
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