UK Asset Resolution
UK Asset Resolution (UKAR) is a British financial services holding company with headquarters in the West Yorkshire village of Crossflatts (near Bradford & Bingley's former headquarters in Bingley). It was established in October 2010 as a bad bank to hold the two run-off elements, Bradford & Bingley (including the Mortgage Express brand) and NRAM plc (previously known as Northern Rock Asset Management), of the two nationalised banks in the wake of the financial crisis of 2007 and 2008.
| Company type | State-owned limited company |
|---|---|
| Industry | Finance |
| Founded | October 2010 |
| Headquarters | , England, UK |
Key people | John Tattersall, Chairman Ian Hares, Chief executive officer |
| Products | Financial services |
| Total assets | £5.1bn (2020) |
| Owner | HM Government |
Number of employees | 110 (2020) |
| Parent | UK Government Investments |
| Subsidiaries | UKAR Corporate Services |
| Website | www |
UKAR manages an asset book in run-off, with the combined entity having a total mortgage book of £4.7bn (as at 31 March 2020), down by £94.7bn since its establishment in 2010.
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