Investment banker to oversee Lloyds and RBS sale

The body charged with managing British taxpayer-owned banking assets said today that it had pulled off a "real coup" in hiring investment banker Jim O'Neil to oversee the sale of stakes in Lloyds and Royal Bank of Scotland.

He will join UK Financial Investments (UKFI) in October as head of market investments from Bank of America Merrill Lynch, where he acts as head of the international corporate finance and restructuring.