Kingman gets City transfer

JOHN Kingman, the former UK Financial Investments boss, has agreed to refrain from working with state-owned banks for 12 months after he takes up his new role at NM Rothschild.<br /><br />Rothschild will announce today that Kingman will start in March as a managing director at the 200-year-old investment bank.<br /><br />But his appointment has already sparked concerns about a potential conflict of interest after Kingman oversaw the taxpayers&rsquo; stakes in the bailed out banks.<br /><br />Rothschild is regarded as one of the favourites to take part in the sell-off of the government&rsquo;s stakes in Lloyds Banking Group, Royal Bank of Scotland and Northern Rock.<br /><br />Labour MP John Mann, a member of the Commons Treasury Select Committee, has said he will be raising the matter with the Treasury.<br /><br />Under the terms of his new contract, Kingman will not work with any government bodies and state-owned banks for 12 months.<br /><br />Kingman announced he was leaving his &pound;143,000 post at UKFI in the summer, making it known he fancied a move to the private sector. <br /><br />He has been succeeded by Robin Budenberg, a senior investment banker at UBS.