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ABN AMRO Capital chief retires

Ian Taylor is leaving the firm he transformed to play more golf and to work on his property interests.

Ian Taylor, the group managing partner of the buyout arm of Dutch bank ABN AMRO, has retired with immediate effect.

Taylor: no plans to return to work

The veteran manager said: “After more than 25 years in the private equity industry I have decided to join the increasing number of friends and colleagues who have either retired or taken lengthy sabbaticals.”

He worked at ABN AMRO for seven years and is widely credited with turning round its UK business and building a European investment franchise with Gerben Kuijper, chairman of ABN AMRO Capital. Kuijper will continue to head the European business.

Taylor said he will miss the buzz of deals but has no plans to return to work, preferring instead to play golf and attend to his property portfolio.

He said: “My advice to anyone retiring has been to take six to 12 months and to say no to everything. It will be interesting to do nothing for the first time in my career. I have always been up for a challenge and it will be easy to turn down anything ordinary.”

Taylor began his career in private equity at 3i and moved to ABN AMRO  to head its London team from Legal & General Ventures in 1999. He became group managing partner of the European buyout business in September 2005 with the principal objective of leading the integration of the local country teams into a single European buyout team.

He is the latest of small group of senior executives to step back from the industry, however briefly. Sir Ronald Cohen, the founding partner of Apax Partners, came back from his retirement with plans for alternative assets manager Portland Capital earlier this week.

Edmund Truell, the founder of mid-market firm Duke Steet Capital, launched Pension Insurance Corporation, his new business, today after leaving Duke Street just over a year ago.

Thomas H Lee, the US buyout veteran, has renewed his enthusiasm for the buyout business since leaving the firm he founded and hired staff for his latest venture Lee Equity Partners in August this year.