THE hiring of Greenhill & Co chairman Simon Borrows in July was seen as a coup for 3i. Now, less than nine months later, the City rainmaker could be on the verge of taking over from Michael Queen.
Borrows, currently 3i’s chief investment officer, has advised some of Britain’s biggest companies, including G4S, Tesco, Informa, Inchcape and National Express, during a long career.
Yesterday analysts at Numis wrote: “The market had lost confidence in Queen’s ability to successfully implement 3i’s new strategy, and a change was clearly required... We believe CIO Simon Borrows will play a role in the future strategy of the company.”
Borrows is a key donor to the National Theatre, where he sits on an advisory board.