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EXCLUSIVE: Seven key RBS Aviation Capital managers resign for new Oak Hill lessor Avolon
14 January 2010
Domhnal Slattery, founder of RBS Aviation Capital, hires management team for new Oak Hill backed aircraft leasing company, Avolon. The resignations could slow the sale of Royal Bank of Scotland's aircraft leasing subsidiary.
RBS Aviation Capital
Royal Bank of Scotland
Seven senior managers at RBS Aviation Capital have today
resigned to join Avolon a new aircraft leasing company backed
by Oak Hill Capital Partners and led by Domhnal Slattery, the
founder of Royal Bank of Scotland's aircraft leasing
It is understood that Oak Hill is in discussions with Avolon
regarding an equity investment of up to $500 million and UBS is
working on a $690 million revolving credit facility to fund its
Slattery who left Royal Bank of Scotland in 2004, is CEO of
Avolon. Denis Nayden, managing partner of Oakhill and a former
chairman and CEO of GE Capital, will be chairman. Nayden
negotiated GE Capital's acquisition of GPA in 1993.
John Higgins, chief commercial officer at RBS Aviation; Tom
Ashe, head of origination; Andy Cronin, senior vice president
capital markets; Ed Riley, senior vice president commercial
negotiation; Dick Forsberg, head of strategy; Pat Hannigan,
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