UKFI's Kingman heads to Rothschild

John Kingman, the former Treasury civil servant and outgoing chief executive of UKFI, the body charged with managing the taxpayer's stakes in Lloyds Banking Group and the Royal Bank of Scotland, is expected to take a senior role at Rothschild, the independent investment bank.

The appointment is understood be in the process of being finalised, and an announcement may be forthcoming as early as next week.