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Ex-Charcol boss Scott plans to buy back firm

Former Charcol chief executive Keith Scott is believed to be looking to table a bid to buy the mortgage broker from Bradford & Bingley.

Money Marketing understands that Scott has been asking questions in the City about raising capital to invest in Charcol which is up for sale after B&B announced its new strategy last month.

It will mark a return to financial services for Scott who left the industry four years ago when B&B took Charcol off his hands.

Scott became Charcol chief executive in July 1998 when US private financer Warburg Pincus bought a 71 per cent stake in Charcol. He took over from John Garfield who co-founded the company in 1973. Scott was previously Natwest Mortgage Services sales and marketing director.

Scott left Charcol in February 2000 when it was bought by B&B. It is believed he left the financial services industry to pursue an equestrian career which ended after an accident.

Scott was not available for comment and Charcol refuses to comment.

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