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View the article online at http://citywire.co.uk/wealth-manager/article/a695323

City investors to float £1.5bn vehicle to snap up RBS branches

on Aug 01, 2013 at 07:52

City investors to float £1.5bn vehicle to snap up RBS branches

Henderson and Schroders are thought to be among the high-profile City investors looking to raise a listed vehicle to buy Royal Bank of Scotland (RBS) branches, according to reports.

The group is hoping to float a £1.5 billion vehicle to buy 316 RBS 'rainbow' branches before they have found out if they have won an auction for them.

Other backers include F&C and the Pears Family - well-known property billionaires - The Telegraph has reported.

The vehicle will be called W&G Investments, and comes as pressure mounts for RBS to appoint Ross McEwan, its UK retail operations head, as its former chief Stephen Hester's replacement.

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