A consortium of investors, including global financiers Corsair Capital and the Church Commissioners, are set to relaunch the bank later this year, which will be headed up by ex-Kensington Mortgages boss John Maltby.
Maltby was CEO of Kensington mortgages from 2000 to 2007, when he moved to Lloyds Banking Group as head of commercial banking.
In July in a Mortgage Solutions exclusive, Royal Bank of Scotland confirmed plans to relaunch its RBS Intermediary Partners brand as part of wider plans to increase mortgage lending.
The group consolidated all lending through mortgage brokers into the NatWest Intermediary Solutions brand at the start of 2010.
The lender told Mortgage Solutions it was not planning any changes to the NatWest Intermediary Solutions proposition.
As a condition of the RBS bailout the group was required to sell 314 branches with the final disposal of Williams & Glyn’s at a later date.
The bank has nearly 1.7m customers, 4,500 employees and a £19.7bn loan book, funded by £22.2bn in customer deposits.
RBSG will work with HMT and the European Commission to agree an extension to the timetable for the disposal of Williams & Glyn’s in due course.
Under the terms of the agreement with RBSG, the investors have agreed to retain their shareholdings for up to 18 months following the IPO or until RBSG has fully sold down its stake in Williams & Glyn’s, whichever is earlier.
