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UK Government Investments appoints new head to manage Britain's RBS stake

Reuters - UK Focus

LONDON, April 20 (Reuters) - UK Government Investments, the body which manages the government's student loan book and stake in bailed out bank Royal Bank of Scotland (LSE: RBS.L - news) , said on Friday it had appointed Charles Donald as head of its financial institutions group.

Donald, who joins UKGI from Credit Suisse (IOB: 0QP5.IL - news) where he was vice chairman of UK advisory and corporate broking, will be responsible for managing and selling down the government's 71 percent stake in RBS. The government has said the stake sale is expected to commence by March 2019.

Donald will take up the role in May 2018, replacing Oliver Holbourn, who announced his departure in March. (Reporting by Emma Rumney, editing by Silvia Aloisi)