A former executive at MBIA, the world’s biggest bond insurer, is to play a key role in restoring Royal Bank of Scotland’s (RBS’s) battered balance sheet to health, I have learned.
John Caouette, a veteran of the structured credit market, is to become chairman of the Asset Protection Agency (APA), the body set up to administer the Treasury’s giant toxic asset insurance scheme.
Caouette is a former senior adviser to Apax Partners, the private equity group,...