Mark McCafferty is to quit his post as chief executive of Avis Europe, the car rental business, to launch a career in private equity.

Private equity firms have been increasingly seeking out senior people with operational expertise. McCafferty said he had been in talks with a number of private equity firms. He said: "The better houses are realising they need to a steady pool of experienced managers, particularly if they are going to do international deals. Although they have a ready supply of financial engineers and deal makers, they need someone who can run the companies they invest in."