Two of the biggest names in the City, former Glencore chair Simon Murray and ex-Abbey National chief executive Luqman Arnold, have joined force to launch a boutique advisory business.
Murray and Arnold will be joined by three other partners – ex-UBS vice-chairman Ken Anderson, former chief information officer at Deutsche Bank Mitchel Lenson and founder of HNF law firm Paolo Tanono – to roll out the business, called Cartesius Advisory Network.
Arnold was chief executive of Abbey National between 2002 and 2004 having held the chairman’s role at Swiss bank UBS.
Murray stepped down from Glencore following its multi-billion pound merger with Xstrata. Murray, a former French legionnaire is currently independent chairman of Gulf Keystone Petroleum. The launch of the venture, first reported by the Financial Times, reflects a growing trend for boutique advisory banks.