Banned Northern Rock’s Jones sets up new firm
THE BANNED former finance chief of Northern Rock, David Jones, is in the early stages of setting up a new consultancy firm.
Jones, who was banned from banking for life by the Financial Services Authority (FSA) last year, has filed to set up an advisory firm, Heriot Consulting, with Companies House.
Filed in April, the company is registered to an address in the affluent New Town area of Edinburgh.
It is not yet known what type of advisory work Heriot Consulting is proposing to undertake, yet the return of Jones to the business world could prove controversial.
The former Northern Rock director, who was fined £320,000 by the City regulator for his part in the collapse of the bank, is allowed to undertake advisory work.
He is only prevented from taking a role that requires FSA authorisation and has previously stated his interest in pursuing opportunities in consultancy work.