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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.

Read more: RBS Aviation Capital Avolon Domhnal Slattery Oak Hill Royal Bank of Scotland UBS

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 business.

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 first acquisitions.
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, senior...

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