RBS appoints Head of Property in its Restructuring Division

RBS appoints Head of Property in its Restructuring Division

Royal Bank of Scotland (RBS) has appointed ex-Savills CEO Aubrey Adams as Head of Property within its Global Restructuring Group (GRG).

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26 September 2011

Aubrey will have overall responsibility for GRG's global property portfolio in this new role and will start on 1st November 2011.

Aubrey was CEO of Savills from 1991 until 2008, and oversaw the firm's development into a leading global property advisory business. During his stewardship at Savills, revenues grew from £24m in 1992 to £650m in 2007. Aubrey has since held a number of non executive directorships and is currently non executive Director at British Land Co.Plc and Max Property Group Plc. He will continue in these roles.

Aubrey's responsibilities will include West Register, RBS's vehicle which acquires property from financially distressed situations and creates value with a view to exiting. Helen Gordon, recently appointed as Head of West Register, will report to Aubrey.

Derek Sach, RBS's Global Head of Global Restructuring Group (GRG) said: "I'm delighted Aubrey is joining RBS and his wide-ranging property experience will be a great asset. He is a highly regarded in the property industry and his appointment will greatly help to maximise the value of the banks distressed assets."

Aubrey 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.

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