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| Author: | Clarke, J. Hooper, C. Nicholson, J. |
| Title: | Reversal of fortune |
| Journal: | People Management
1997 : MAR 20, VOL. 3:6, p. 22-29 |
| Index terms: | HUMAN RESOURCE MANAGEMENT ENGLAND FINANCE |
| Language: | eng |
| Abstract: | The crisis that nearly toppled Lloyd's of London, one of the oldest financial institutions in the City, ended last autumn when its members approved a 3.2 billion pounds reconstruction programme. The resurrection of Lloyd's of London is remarkable for many reasons, not least because no other organisation has ever lost 8 billion pounds and returned to profitability. This radical transformation could be achieved only by the most complex financial restructuring operation in commercial history. |
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