UKFI advisers may end up trapped between a Rock and a hard place
The body responsible for looking after the UK goverment’s stakes in the financial sector that were acquired during the financial crisis this week fired the starting pistol on the return of building society Northern Rock to the private sector. But bankers expect the UKFI process to be a marathon rather than a sprint.
"I get the impression that UKFI is looking to appoint advisers to guide them through what its alternatives are, rather than to start an auction in the short-term," a FIG banker at a leading bank said.
FIG bankers agreed that once UKFI has awarded its mandate, the best
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