News: Bradford & Bingley chief resigns

The boss of Bradford & Bingley has quit "due to a serious cardiovascular condition", the firm has announced.

Chief executive Stephen Crawshaw is leaving the UK mortgage lender with immediate effect, and will be replaced by chairman Rod Kent in the short-term.

Mr Crawshaw's departure comes a day before a trading update and reports say the firm will issue a profit warning.

The firm has been hit hard by the credit crisis and is trying to raise £300m to boost its balance sheet.

I wonder will they be the next Northern Rock?