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

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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Profile: The opportunity set that attracted Brett Williams to wealth management

Profile: The opportunity set that attracted Brett Williams to wealth management

Brett Williams is best known for helping to build some of the biggest platforms in the IFA market.He made the move over to wealth management to head SEI’s UK business earlier this year in the belief that this is where the best opportunities now lie.

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