It’s been almost a decade that Bridgepoint has been wooing the longtime Chairman of Marks & Spencer, Sir Stuart Rose. And it looks like the time has come for Sir Stuart to move on and take up to private equity.
Recently, there have been several high-profile appointments, some of them being the former Procter & Gamble Chief Executive Alan Lafley joining the Clayton, Dubilier & Rice in April and the former Chief Executive of Standard Chartered Bank and the ex-Trade Minister, Lord Davies joining the Corsair Capital, the US buy-out firm.
Commenting on such high-profile appointments, an advisor from a rival private equity firm said that executives like Rose were actually appointed so that they could put in their due in fundraising, act as guest speakers etc.
Soon rose would become a part of the Bridgepoint advisory board, which already comprises of big names like former Governor of Hong Kong and former Health Secretary Alan Milburn. Reportedly in a year, the board meets four times to put forth their views and suggestions about social policy, industrial and commercial trends, macro-economic issues and some ways that would affect their investments.
“Having a big name working with a firm does add kudos, but the main thing is that private equity firms are looking for the best brains”, said Rod Ball, a research fellow at the Centre for Management Buy-out Research at Nottingham University.
- Lydia, First Great White Shark Known to Swim from One Side of Atlantic to Other
- Robots to Walk Streets within 10 Years
- Bitcoin investors call for protection after collapse of two major Bitcoin platforms
- South Yorkshire cottage has been crashed into by 40 cars over last 14 years
- Doctors to Reconstruct People's Faces with Stem Cells from their Fat