Tuesday 23 May 2017

Executive exits won't affect unit sale -- RBS

Photo: Bloomberg News
Photo: Bloomberg News
John Mulligan

John Mulligan

Royal Bank of Scotland (RBS) believes a planned sale of its Dublin-based aviation finance arm will not be affected by the departure of a handful of key executives, who have left to join a new leasing firm spearheaded by financier Domhnal Slattery.

An RBS spokesman confirmed that some staff at its aviation capital business in Dublin left the company this week. He declined to comment further on the departures or the ongoing sale process.

However, the departures are likely to make an already protracted sale even longer. The division was put up for sale last February when it was deemed non-core by RBS.

It is believed that among those to have left the unit were its chief commercial officer John Higgins and the senior vice-president of capital markets Ed Riley. They have left to join Avolon, the aircraft leasing business Mr Slattery is raising substantial debt and equity for.

Irish Independent

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