Hyman takes over as chief at Charterhouse

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The Independent Online
HOWARD HYMAN, the head of corporate finance at Price Waterhouse who advised the Government on the controversial privatisation of the engineering arm of the former Independent Broadcasting Association, is moving to Charterhouse as managing director.

Having created the accountancy firm's privatisation division in 1987, he advised on the sale of the water and electricity industries and Rover group.

The sale of National Transcommunications, the company set up to buy transmitter masts from the Government, attracted criticism after directors and staff saw their shares rise from pounds 1 to pounds 22 in two years.

Mr Hyman, who is 44, said yesterday that his move would probably mean that Charterhouse would be involved in the remaining privatisations of Royal Mail, British Coal and the railways. He said the real attraction of Charterhouse was its European network. Last September 90 per cent of the bank was acquired by Berliner Handels und Frankfurter Bank and Credit Commercial de France. The Royal Bank of Scotland owns the remainder.

Starting in 1990, Mr Hyman developed a network of corporate finance offices in Europe for Price Waterhouse, one of the largest moves by an accountancy firm into the former preserve of merchant banks.

In the first four months of the year Charterhouse has been the fourth most active sponsor of flotations, behind SG Warburg, BZW and James Capel.

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