Rory Cullinan has been appointed head of equity finance at The Royal Bank of Scotland, a new post that will see Royal Bank Private Equity, Royal Bank Development Capital, Royal Bank Ventures and Property Ventures join principal finance to form the equity finance business.
Equity finance will be responsible for the delivery of the bank’s equity proposition to the market, building on the progress that it has made in the last two years. The new business will continue to manage the existing portfolio of investments.
Iain Robertson, chairman of Royal Bank Private Equity (RBPE), will become chairman of the new business. Mark Nicholls, currently managing director of RBPE has been appointed deputy chairman of equity finance. David Giffin, deputy head of Royal Bank Private Equity will become deputy head of equity finance.
Commenting on the changes, Johnny Cameron, CEO, corporate banking and financial markets, said: “We have made significant progress in this market over the past two years. Bringing our equity businesses together into one unit will allow us to build on this progress and meet the challenges of this very competitive market.”