RBS losing talent to rivals
(8 September 2015 – Scotland) Royal Bank of Scotland has lost two additional senior executives to competitors.
John Davison, who headed RBS’ strategic investment group, has joined private equity firm KKR to head its new platform for debt management and corporate turnarounds, Pillarstone.
Davidson expects to grow the business reasonably rapidly, with the capacity to handle €5 billion ($A8.02 billion) to €10bn of assets under management to begin with and then, if that is successful, raising more money later.
Meanwhile Stephen Fletcher is leaving Coutts – RBS’ high-profile private bank – to join rival Arbuthnot Latham.
Fletcher aims to expand the corporate business, which provides banking services to the companies run by the bank’s wealthy clients. The bank also hopes to gain new business clients and then serve the personal needs of the executives, owners and directors.
RBS also farewelled Ian Walters, former managing director of business banking, who moved to Metro Bank in August.
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