RBS International has appointed Peter Brown as head of funds, as part of the bank's wider strategy to serve its alternative funds customers in a more consistent way through a single business.
Commenting on Brown's hire, Andrew McLaughlin, CEO of RBS International, stated: “There is an increasing demand for specialist banking services to support the international alternative funds industry."
Brown has been with the bank since 1997, most recently heading up the RBS Financial Institutions Group in the UK, which included the RBS funds banking business in London.
Before that, he was one of the founding members of the RBS mid-market leveraged finance business, delivering large-scale buyout transactions alongside private equity sponsors.
Brown now leads a funds banking team that supports more than 1,000 fund managers and fund administrator customers in the UK, Jersey and Guernsey. He will continue to be based in London.
“The UK and Western Europe alternative funds market is growing rapidly and we expect to invest further in the business in the future,” said the bank’s spokesperson.
“At present, Peter’s focus is on getting the new RBS International Luxembourg office opened and customers migrated across from the current RBS plc branch.”
The Luxembourg branch is expected to be operational in March 2017.