RBS lines up £4.7bn plane leasing sale

ROYAL Bank of Scotland is understood to be on the verge of selling its commercial jet leasing business to Sumitomo Mitsui Financial Group of Japan for an estimated ¥550 billion (£4.7bn) – with an announcement expected as early as today.

RBS had previously indicated that it would sell RBS Aviation Capital as part of a major restructuring at the part‑nationalised bank that has already raised billions.

The imminent deal comes amid reports that RBS’s corporate finance head in the UK, John McIntyre, is leading a team of dealmakers considering a management buy-out of the bank’s advisory business.

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McIntyre, a former employee of German investment bank Dresdner Kleinwort, was hired in 2001 to lead a push into corporate finance and mergers and acquisitions. But 83 per cent taxpayer-owned RBS is now shrinking its investment banking arm.

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