Word: horta
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Dates: during 2010-2019
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...deal was even less popular when Abbey's new CEO António Horta-Osório slammed the brakes on new mortgage lending in 2006, right in the middle of a housing boom. But Horta-Osório looked prescient when U.K. banks such as Alliance & Leicester and Bradford & Bingley kept on lending and then found themselves in crisis when the market crashed. Santander bought them both - in B&B's case, it was only the deposits and branches - for about one-fifth of what it had paid for Abbey. (Read: "U.K. Acts to Stem Bank Panic...