Cattles' saviour lands major role at RBS as part of growing restructuring team

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The Independent Online

Laura Barlow, one of the key figures in the turnaround of failing sub-prime mortgage lender Cattles, has landed a major role at Royal Bank of Scotland.

Ms Barlow will join RBS in the new year to head the bank's growing UK restructuring team.

She is currently a managing director at AlixPartners, the restructuring specialist advising Cattles. Earlier this year, she was parachuted in as chairman of Welcome Financial Services, where RBS was able to see her work first-hand. Welcome had caused many of Cattles' problems, due to apparent accounting errors; and it was during talks over a £500m loan made to Welcome by an RBS-led syndicate that the alleged irregularities were found. Ms Barlow is also chief restructuring officer of Sea Containers, the transport firm that emerged from Chapter 11 bankruptcy protection in the US earlier this year.

About three-quarters of RBS's 800-strong global restructuring group is based in the UK, across six offices – including London, Edinburgh and Leeds.