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Spencer Stuart takes on hunt for new UKFI chief

HEADHUNTER Spencer Stuart has been tasked with finding a new chief executive for UK Financial Investments (UKFI), after rival Odgers Berndtson was dismissed because it hired a former Royal Bank of Scotland banker as a senior adviser.<br /><br />UKFI hired ex-Tory minister Virginia Bottomley, the chairman of Odgers, to lead the search last month after former chief executive John Kingman quit the firm for the private sector.<br /><br />But it vetoed the headhunter&rsquo;s involvement when it emerged Johnny Cameron, a former head of investment banking at RBS who has come under fire for his role in the bank&rsquo;s woes, had taken up a job there. <br /><br />Earlier this year, Cameron agreed to take up a position at investment bank Greenhill, but was forced to walk away when the Financial Services Authority intervened to block the appointment. City A.M. understands Cameron also received a number of further job offers from City banks before deciding to take up a less controversial role in the recruitment sector.<br /><br />Despite his involvement in the downfall of RBS, now 70 per cent owned by the taxpayer, Cameron is still regarded as a respected and well-liked figure in the City. One City source said the Treasury&rsquo;s decision to pull out of its contract with Odgers was tantamount to saying Cameron should not be allowed to earn a living.