German bank WestLB’s executive board has refused to back an attempt by its high-profile banker Robin Saunders to set up an independent private equity division with her 30-strong team.
Saunders is best known for her part in arranging the £426m financing for the new Wembley football stadium.
She is thought to be keen to emulate arch-rival Guy Hands, who left Japanese bank Nomura to set up an independent private equity firm in which his old employer invested a significant amount of capital.
The Times Business 02/11/02 page 60
