Govt bank share sale chief O'Neil quits UKIF

Jim O'Neil will step down from his role as chief executive of UK Financial Investments later this year, the firm confirmed in a statement. He will be re-joining Bank of America Merrill Lynch which he left to join UKFI in 2010. UKFI said it would recruit a new chief executive to help execute its mandate from HM Treasury to manage the government's shareholdings in the banking sector. HM Treasury sees the role of UKFI as critical in maximising the value of its shareholdings in RBS and Lloyds and in returning both banks to the private sector and also in UKFI's oversight role at UK Asset R...