Here are five of today’s key business stories in one handy package.
Royal Bank of Scotland signed agreements with three investment partners – AIG Asset Management, Hermes Investment Management and M&G Investments – to give more private equity-backed firms greater access to capital. The move came as the state-backed lender said it was poised to book a gain of about £245 million from the sale of a portfolio of loss-making Irish property loans.
National Australia Bank (NAB) confirmed it will float off a 25 per cent stake in Clydesdale Bank in February. The Glasgow-based lender, along with its Yorkshire Bank brand, is to be demerged from its Australian parent through a flotation on the London Stock Exchange. The remaining 75 per cent of Clydesdale will be held by existing NAB shareholders.
David Jones, the managing director of price comparison website Moneysupermarket, is joining Sainsbury’s Bank as its chief customer officer. Jones, who has previously worked at RBS and Virgin Money, will lead the newly-formed customer division at the Edinburgh-based bank, a wholly-owned subsidiary of supermarket chain Sainsbury’s.
Holidays firm Barrhead Travel unveiled plans to create 100 jobs across Scotland. The company, which has opened outlets at Edinburgh Airport, the capital’s Hanover Street, St Enoch Square in Glasgow and Newcastle’s Eldon Square shopping centre over the past 12 months, said the expansion of its workforce represents an investment of about £200,000.
Temporary power specialist Aggreko installed a new chief at its rental solutions division. The Glasgow-based group said company veteran Bruce Pool succeeds Asterios Satrazemis at the helm of the unit, which operates in developed markets serving industries such as oil and gas, petrochemicals, mining and events – including the London Olympics and Commonwealth Games in Glasgow.