People moves that aren't press released - return of the Sach - part 2
It was only a month ago that little old Betaville had the pleasure of welcoming the UK’s most famous debt collector back into corporate life.
You might remember I wrote about how Derek Sach, the controversial former head of Royal Bank of Scotland’s discredited and disbanded “business support” unit - the GRG - had resurfaced as an advisor to the Europe's largest private equity group CVC Capital Partners, former owner of Formula One.
Hidden away deep on CVC’s website was a reference to Sach working as an advisor focussing on “sub-investment grade debt” - normally code for vulture fund investing. Here is a link in case you don't remember my last piece:
But since I wrote my story the debt collector has disappeared from CVC's website. There’s no name check, no reference, no sign of Sach to be found anywhere on the CVC portal.
Has Sach gone undercover, a la Inspector Clouseau? Or deployed his cloaking device like a Klingon Bird of Prey?
Or maybe, just maybe, he has packed his bags and gone?
I put the question to the CVC spinner at Brunswick. "No comment" is his only response. Quelle surprise.....