Royal Bank of Scotland has appointed ex-Savills CEO Aubrey Adams as head of property within its global restructuring group.
Adams will take overall responsibility for the group’s global property portfolio in what is a new role at the bank. He will start on 1 November.
Adams was CEO of Savills from 1991 until 2008. He has since held a number of non-executive directorships and is currently non-executive director at British Land and Max Property Group. He will continue in these roles.
His responsibilities will include West Register, RBS’s vehicle which acquires property from financially distressed situations and creates value with a view to exiting. In July, the bank strengthened the team by poaching Helen Gordon from Legal & General to head up West Register. She will report to Adams.
Derek Sach, head of RBS’s global restructuring group, said: “I’m delighted Aubrey is joining RBS and his wide-ranging property experience will be a great asset. He is highly regarded in the property industry and his appointment will greatly help to maximise the value of the banks distressed assets.”
Adams said: “GRG plays a fundamental role in achieving the bank’s overall objectives. I am very excited by both the challenge and global scope of this role.”
RBS’s GRG division steps in to manage corporate customers when their businesses are showing signs of financial stress. GRG successfully restructured around 950 UK businesses in 2010, saving an estimated 64,000 jobs in the process.
julia.cahill@estatesgazette.com
