Will RBS boss stop for the rugby on way Down Under?
SO WHEN will Ross McEwan get to pack his bags and depart from Scotland to his new gig Down Under as head of National Australia Bank? In theory, Royal Bank of Scotland could hold its CEO to a notice period that ends in April. In reality, they will want a new CEO in place faster than that. “I think Ross is eyeing the Rugby World Cup in October as a nice break in between jobs,” muses one bank analyst. Sounds like a plan.
EI’S boss Simon Townsend is in line for a few quid now the pubs group is to be bought by privateequity backed Stonegate, with his stake valued at £3.9 million by the offer. Spy probed him on what he and his wife might treat themselves to should the sale complete. Rolex watches? A Ferrari? Townsend has clearly been too busy with negotiations to plot any shopping sprees. He jokes: “I haven’t seen Mrs T for the last few weeks.” Mrs T will doubtless have her say.
THIS from broker AJ Bell: “Are cannabis stocks already running out of puff?” Boom boom.
SPY notes former LandSec boss Rob Noel’s appointment onto the board of Taylor Wimpey. What a shame he didn’t overlap with his exLandSec colleague, Almacantar chief Mike Hussey, also on the board there until last year. Hussey has made it known that Noel’s job was his for the asking before he decided to try his luck with Almacantar. That would have made for a few interesting chats around the boardroom table.
AS FOR who will take over from Rob Noel at LandSec: London chief Colette O’Shea is hot favourite, but another name mooted is Grainger’s Helen Gordon. Gordon has pushed Grainger rapidly into the private rental sector, an area which LandSec is also keen to grow in.
NOTE to dictators: head back to school to raise cash from foreign investors, says the Bank of Finland’s Institute for Economies in Transition. Overseas money is especially keen on despots educated in economics and with business experience, according to foreign direct investment data on 100 dictatorial countries from 1973 to 2008. “Incompetence deters investment to a greater extent than expropriation risk,” is the verdict.