The current chairman of Yell Group is joining Duke Street Capital as an operating partner. Bob Scott will provide industry expertise to Duke Street’s investment team on deal origination, investee company management and development of strategy.
- Scott’s position at Yell was preceded by an international career in financial services and runs in tandem with non-executive directorships of RBS, Jardine Lloyd Thompson and Swiss Reinsurance of Zurich. He is also a non-executive director of Focus DIY Group, a Duke Street investee company.
- Peter Taylor, chief executive of Duke Street, said that the expertise of operating partners was a vital ingredient of value creation from origination through to exit.
- “Duke Street has a high quality portfolio and a track record of adding value to its investments. I am looking forward to working with the team further, both on deal origination and in helping to develop and strengthen their existing portfolio companies,” said Scott.
- Scott retired as group chief executive of CGNU (now Aviva) in 2001, having previously held the same position with CGU PLC and General Accident PLC, where he had been an executive director since 1992. He was also chairman of the Association of British Insurers in 2000–2001, having been a board member for four years, and a member of the president’s committee of the Confederation of British Industry 1998–2000.
- Iain Jamieson has been named a portfolio director at private equity firm Inflexion. He joins from BancBoston Capital, where he was head of portfolio management. In his new post, he will focus on performance data, exit strategy and execution. Simon Turner, joint CEO of Inflexion, said the appointment came as part of a wider commitment to active portfolio management.
- 1st Credit, the UK debt purchase and Bridgepoint portfolio company, has announced a new chairman in the person of Kenneth Culley. He was formerly chief executive of Portman Building Society, and is currently chairman of JP Morgan Fleming Elect and BRIT Insurance Ltd. He is also a non-executive director of the Financial Markets Compensation Scheme and of Marks and Spencer Financial Services. 1st Credit was the subject of a £72m management buyout backed by Bridgepoint in October 2004.
- Baker Tilly, the UK-based accountancy firm, has appointed Alistair Hynd as a financial modelling expert advising banks and corporates. He joins the firm’s southern regional corporate finance practice.