LONDON, June 24 (Reuters) - Former Unilever (ULVR.L) veteran Manvinder “Vindi” Singh Banga will join Clayton, Dubilier & Rice (CD&R) as an operating partner in its London office, the private equity firm said on Thursday.
Banga, who sits on the board of Thomson Reuters (TRI.TO), will join operating partners such as Fred Kindle, the former boss of ABB ABBN.VX, and special partners including Jack Welch, General Electric’s (GE.N) former head.
Banga left Unilever this year after 33 years with the consumer goods group, where he was president of Foods, Home and Personal Care. He has also been on the Prime Minister of India’s Council of Trade & Industry since 2004.
Banga would help CD&R source new investments and enhance the performance of its portfolio businesses, the group said.
CD&R is one of the bidders for Royal Bank of Scotland’s (RBS.L) payment processing business, which includes WorldPay, working in a team with buyout firm TPG [TPG.UL], sources familiar with the situation have said. [ID:nLDE65F2BF]
Reporting by Douwe Miedema; editing by Simon Jessop and Chris Wickham