U.K. M&A Watchdog Hires New Head With 'No Touch of Stardust'

The body that polices mergers and acquisitions in the U.K. has a new head, Rothschild banker Crispin Wright, an appointment that adds to the recent history between the Takeover Panel and the independent investment bank.

Mr. Wright will take a two-year secondment from Rothschild when he starts on July 1. He replaces Philip Robert-Tissot, the former chairman of Europe, the Middle East and Africa M&A at Citigroup.

Peers in the City of London were quick to praise the appointment. They described Mr. Wright as “rather intellectual”, “a great tactician”, and “a good solid sensible mature banker without any touch of stardust.”

Scott Hopkins, a partner at law firm Skadden, Arps, Slate, Meagher & Flom, said: “He is exceptionally smart but also a great listener. Combined with his substantial deal-making experience I think he will make an excellent [director general]”.

The appointment continues Rothschild’s recent history with the panel. Mark Warham, the former head of M&A at Barclays who joined Rothschild as a vice-chairman focused on U.K. deals last year, was director general of the Takeover Panel between December 2005 and November 2007. Another current Rothschild banker, Richard Murley, held the post between 2003 and 2005.

The U.K. Takeover Panel, established in 1968, is responsible for policing mergers and acquisitions. It has the power to give rulings to secure compliance, or to seek enforcement through the courts -- a step it has yet to take.