Ex-Northern Rock Chairman Ridley Wins U.K. Lords Election

Matthew Ridley, who quit as chairman of Northern Rock Plc in 2007 after it became the first British bank to experience a run in 140 years, won a rare election to the upper chamber of Parliament, the House of Lords.

The Lords is usually described as an unelected chamber, as most of its members are there by appointment. Even so, under a deal negotiated with Tony Blair’s government, 90 of its members come from Britain’s hereditary nobility and are selected by a vote from among their number.

Parliament currently lists 183 nobles as eligible to vote. In today’s election, 46 ballots were cast, with 27 candidates standing. In second place behind Ridley was Douglas Hogg, a former Conservative minister who left the lower House of Commons in the 2010 election. He had been revealed in a 2009 scandal as having claimed expenses to clean the moat around his country house.

To contact the reporter on this story: Robert Hutton in London at rhutton1@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net

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