The appointment of Robin Budenberg, a seasoned UBS banker, as the next chief executive of UK Financial Investments, is expected to be confirmed on Wednesday, along with details of a plan to carve up nationalised mortgage lender Northern Rock into “good” and “bad” parts.  Returning the viable part of Rock to the private sector will be Mr Budenberg’s first job, combined with the planned divestments by Royal Bank of Scotland and Lloyds of significant portions of their operations. Agreement with the EU on these asset sales is thought to be close.

This entry was posted by Paul Murphy on Wednesday, October 28th, 2009 at 4:12 and is filed under Capital markets. Tagged with john kingman, northern rock, robin budenberg, ubs, UKFI. Edit this entry.