RBS expands German LBO syndication

The bank has made two appointments at its London office to strengthen its distribution capabilities of leveraged loans originating in Germany.

Following in the footsteps of rival Bank of Scotland, which last week announced three appointments at its German leveraged finance team, Royal Bank of Scotland has made two appointments to build the bank’s German syndication coverage.


RBS has hired Thomas Wolff as senior director, and Mike Potter as director of leveraged finance syndications. Both Potter and Wolff will be based in London.


Prior to his move to RBS, Thomas Wolff was responsible for loan syndication at Deutsche Bank for eleven years, focusing on syndications for LBO loans in the last four years. Potter joins from WestLB, where he was also responsible for the syndication of LBO loans. Between 1991 and 1997 he worked in the syndications department at NatWest and Fuji Bank.


The bank has also announced that Stuart Hewer, who joined as an associate director from Bank of Scotland in January, has been promoted to director at the bank’s leveraged finance team in Frankfurt.


“The build-up of the syndication capability for the German team is an indication of the dynamic development of the German LBO market and will strengthen the position of the bank in large transactions above E250m,” commented Jochen König, head of leveraged finance in Germany.


RBS set up its German leveraged finance unit in 1999. The team primarily focuses on the structuring of loans in the segment of medium-sized and large leveraged buyouts. In total, RBS Leveraged Finance Germany has completed 40 transactions within four years, committing almost E3bn.


So far this year the bank has backed three large LBOs in Germany, including the buyouts of TeleColumbus by BC Partners and Rodenstock by Permira, where the bank acted as mandated lead arranger, as well as the buyout of BertelsmannSpringer by Cinven/Candover.