Byatt to leave NatWest Markets

Roger Byatt, the banker who led an attempt in the spring to oust Sir Alistair Morton as co-chairman of Eurotunnel, is leaving NatWest Markets as part of a restructuring of its investment banking activities.

Mr Byatt, 56, was in charge of financing for large companies at NatWest, which was a leading force behind the original plans to build the Channel Tunnel.

As one of four agent banks acting as a co-ordinator for the 225-strong bank lending syndicates, NatWest was one of the influential organisations in the debt restructuring talks which were concluded last month.

The announcement yesterday that Mr Byatt would retire in March 1997 means that the two senior executives at NatWest who were involved with Eurotunnel will have relinquished full-time roles. John Melbourn, the main board director who was closely linked to the Eurotunnel saga, gave up his position as deputy group chief executive last month. He remains on the NatWest board.

Mr Byatt's retirement was announced by Martin Owen, chief executive of NatWest Markets, at a meeting of senior management at NatWest's conference centre in Heythrop Park, Oxfordshire, in which he unveiled a series of top management changes.

Mr Owen said: "Roger Byatt has played an instrumental role in the successful creation of NatWest Markets and I am personally grateful for the enormous support he has given me."

Mr Owen announced the appointment of Peter Hall, currently deputy chief executive and head of NatWest Markets North America, to the new position of chief operating officer of NatWest Markets in London.

"Peter will be charged with implementing our operational plan, leaving me more time to work with the global products heads," Mr Owen said.

Michael Allsop, senior managing director and global head of specialised finance, is replacing Mr Hall, while Phil Wise, senior managing director of capital markets, takes on the role of chief administrative officer with responsibility for risk, operations and technology.

Mr Owen also gave senior roles to Konrad "Chip" Kruger and Gary Holloway, who joined the bank as a result of its merger with Greenwich, the US bond trading firm bought by the bank this year.

Mr Kruger is to come to London to become co-chief executive with Mr Holloway, who will remain in the US, of a new global debt markets division.