RBS hires ex-Renaissance buyout boss
Source: http://jasoncorcoran.blogspot.com/2009/02/rbs-hires-ex-renaissance-buyout-boss.htmlPosted on Tuesday, February 10th, 2009 | In Russia
span style=”font-weight:bold;”Financial News Online/spanbr /br /Jason Corcoran in Moscowbr /br /February 3 2009br /br /Rory Cullinan, former deputy chairman of private equity at Renaissance Partners, has rejoined Royal Bank of Scotland a month after leaving the Russian buyout group.br /br /Cullinan spent 16 months at Renaissance after joining from buyout firm Permira in August 2008. Prior to that he led RBS’ equity finance division and sat on the board for corporate banking and financial markets from 2001 to 2005.br /br /An RBS spokesman said Cullinan had joined the wholesale global banking and markets division and would work on projects where his expertise will add value.br /br /During his prior tenure at RBS, Cullinan was responsible for a portfolio of more than 100 companies. He also presided over a deal that saw RBS buy a controlling stake in Southern Water at a cost of £273m (€302m), becoming a director of Southern Water Capital.br /br /Before joining RBS, Cullinan spent eight years in banking in South Africa, Europe and the US, mainly with Citibank. In 1992 he co-founded Verdoso, a private investment fund, which owned The Sellotape Company, remaining a partner until 2000.br /br /Financial News yesterday reported Cullinan and Richard Olphert, the chairman of Renaissance Partners, had both left the firm, which is part of the Renaissance banking group.br /br /A Moscow spokesman for Renaissance said the private equity team had been pared back to eight from a staff of 12.br /br /Renaissance Partners, which raised a $600m (€467m) fund last year, realised substantial losses through investments in Ukraine and Africa, according to Russian business paper Vedemosti.
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Africa, Banking, Citibank, Corporate Banking, equity finance division;, EUR, Europe, Gbp, JASON CORCORAN, Online/spanbr /br /Jason Corcoran;, Permira;, Renaissance Partners;, Richard Olphert;, Rory Cullinan;, Royal Bank Of Scotland, Russia, South Africa, Southern Water Capital;, The Sellotape Company;, Ukraine, United States, USD, Verdoso;, wholesale global banking;
 About Jason Corcoran (http://jasoncorcoran.blogspot.com/)
Jason is the Moscow correspondent of Financial News, the Dow Jones weekly. Recent freelance work on Russian business, politics and current affairs has appeared in the Independent, the Guardian, the Wall Street Journal, the Irish Independent, the Irish Times, Institutional Investor and Business New Europe. Prior to moving to Moscow, Jason worked for Financial News, Financial Times Business, the Evening Standard and the Irish Independent. You can reach Jason at jasonwcorcoran@gmail.com |
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