By Richa Naidu
Sept 15 (Reuters) - James Leigh-Pemberton, chief executiveof Credit Suisse's British arm, will be appointed thenew head of UK Financial Investments (UKFI) on Monday, accordingto a Credit Suisse internal memo seen by Reuters.
The appointment comes just as UKFI - set up to manage andeventually sell Britain's stakes in Lloyds Banking Group and Royal Bank of Scotland - prepares to sellpart of Britain's 39 percent stake in Lloyds.
Leigh-Pemberton, whose father was governor of the Bank ofEngland for a decade from 1983, was a member of the team ofbankers that advised Britain's Treasury on the recapitalisationof Lloyds and RBS when the Government pumped 66 billion pounds($104.72 billion) into both lenders, keeping them afloat duringthe 2008 financial crisis.
Business Secretary Vince Cable told a newspaper last monththat RBS, in which Britain owns an 81 percent stake, wasunlikely to be reprivatised before 2018. The Government willconclude a review this autumn into whether RBS should be splitup.
Leigh-Pemberton is set to step down from his role at CreditSuisse and join UKFI at the end of October, succeeding JimO'Neil who left UKFI in April.
UKFI and Leigh-Pemberton could not be reached for commentlate on Sunday.
Lloyds (LLOY)