Project New Bank brings in Pelham Bell Pottinger ahead of AIM listing

Project New Bank, the retail bank acquisition vehicle headed by two City heavyweights, has been using Pelham Bell Pottinger for comms and media relations support.

Up for sale: branches of Northern Rock
Up for sale: branches of Northern Rock

The venture, led by Lord Levene chairman of Lloyd's of London insurance and Government adviser Sir David Walker, has been using Pelham Bell Pottinger since June.

Project New Bank has been established to buy up state-owned bank branches from Northern Rock and Lloyds Banking Group.

Pelham Bell Pottinger MD James Henderson is leading the agency’s involvement.

The venture intends to list on the AIM market within the coming weeks to raise initial capital to fund its potential acquisitions.

Rivals for the forthcoming EU-mandated branch sales include Virgin Money, National Australia Bank, private equity firm Blackstone with the Wellcome Trust and recently established Metro Bank.

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