UK Treasury appoints BlackRock as asset specialist advisor for RBS bad bank review


HM Treasury has appointed BlackRock Solutions to provide specialist advice on RBS assets as part of the bad bank review announced by Chancellor George Osborne at the Mansion House speech last month.

BlackRock Solutions were appointed following a competitive process run by the Treasury, and will work alongside Rothschild and Slaughter & May, appointed last week as corporate finance and legal advisors respectively to the review.

The bad bank review is assessing the merits of creating a bad bank for some RBS assets and is due to conclude in the autumn 2013.

Reuters reports that Osborne said in June that Britain would examine whether to split the bank, in which it owns an 81% stake, hiving off its remaining toxic loans into a so-called 'bad bank'.

Supporters of the proposal say that would leave the 'good bank' better placed to lend and help stimulate Britain's economy.

UK appoints BlackRock as advisor on RBS review

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