Ex-Northern Rock chair joins Lords


5th Viscount Ridley, chairman of Northern Rock when the bank collapsed in 2007, was yesterday elected to the House of Lords after an unusual by-election vote. There are 92 hereditary peers left in parliament’s upper chamber and when one dies – as Earl Ferrers did last year – a vote is held to replace them with another hereditary peer from the same party. Ridley topped the poll of 26 other Tory peers and can now influence legislation.

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