UK hires Deutsche heavyweight to aid disposals

[TrueBlueTerrier]

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The Shareholder Executive, the state body which looks after the UK Government’s business holdings, has hired a senior rainmaker from Deutsche Bank as it steps up efforts to find buyers for assets including the Royal Mail, the Tote and the Student Loans Portfolio.

Anthony Odgers, who was most recently a senior member of the corporate restructuring team at Deutsche Bank, has been hired to the newly-created position of head of portfolio management with immediate effect.

A well-known figure in UK mergers and acquisitions, Odgers was head of telecoms M&A at Lehman Brothers, where he advised on the merger of Telefonica Moviles and Telefonica as well as on assignments for BT and Vodafone. He joined Deutsche Bank in May 2007 as chief operating officer for M&A in Europe and later joined the German bank's corporate restructuring practice as it looked to capitalise on the glut of restructuring work that arose in light of the financial crisis.

His hire comes at a politically sensitive time as the UK Government announces cuts across the public sector and seeks to distant itself from the investment banking industry. Owing to these sensitivities, the hire was approved by George Osborne, the Chancellor of the Exchequer, and Danny Alexander, the Chief Secretary to the Treasury, according to a source familiar with the situation.

The Shareholder Executive was set up in September 2003 to improve the way government-owned assets are run, as well as prepare them for sale. It is manned by a mixture of civil servants and former investment bankers. Chief executive Steven Lovegrove was previously head of the European media team at Deutsche Bank. Philip Remnant, who is the chairman, is the former head of UK investment banking at Credit Suisse, where he remains a senior adviser.

Odgers' appointment comes after former managing director Marc Middleton left the body in the summer to become vice chairman of European advisory at Macquarie Capital.

One of Odgers’ principal jobs will be to reinvigorate the sale of government assets earmarked for sale by the previous administration including the Royal Mail, the Student Loans Portfolio, the Tote, the Dartford Crossing, the channel tunnel rail link and NATS, the British air traffic control system.

Remnant said: “Anthony is a highly experienced banker and his appointment adds strength to the senior management team as the responsibilities of the Shareholder Executive grow. Where appropriate, he will help prepare assets for sale and oversee the sales process as the government seeks to bring in cash in the current difficult economic climate.”

Many of the assets, including the Tote and the Royal Mail, have been on the block before but have so far failed to attract buyers.

Deutsche Bank declined to comment.

[Stormproof]

A well-known figure in UK mergers and acquisitions, Odgers was head of telecoms M&A at Lehman Brothers

Great, another dodgy dealer

[Lincox]

Time to take out shares in Spear & Jackson. These robbing Tory b...strds will soon be digging up clods of British Turf to sell abroad. We have nowt left now, when will these jokers realise that this countrys assetts should remain British and that they have no mandate to dispose of this countries wealth.

[borders]

Time to take out shares in Spear & Jackson. These robbing Tory b...strds will soon be digging up clods of British Turf to sell abroad. We have nowt left now, when will these jokers realise that this countrys assetts should remain British and that they have no mandate to dispose of this countries wealth.

too late Linox, its all but gone , the middlemen brokering all those deals have made a fortune and retired to the south of France !!

[Sharkeyes]

May be we should bombard the palace with messages of support for Royal Mail staying 'Royal' and show our sincere disgust at the 'treasonable' stance of this government giving into the EU, letting foreigners strip this country of its own identity, heritage and assets.
What must her majesty think? How can we sit by and let Deutche Post or any other foreign owned group come in and rip the heart out of what British blood was spilled for 70 years ago...... To keep their grotty mits off our country and its free way of life!
I for one am fuming over this!

[bag69]

Dont forget the Royal Family is Germanic!!!!

[Lincox]

yeah and Greek (Phil the Greek) and they haven,t got f-ck all left have they?