Philip Turner, the engineer-turned-accountant who was in charge of hunting for acquisitions for UK conglomerates Hanson and Wassall in the 1980s and 1990s, has returned to the deal trail with Leukadia National Corporation.

Turner, 58, is setting up a London office for the New York-listed investment group, which takes private equity-type stakes, to look for opportunities in the UK and possibly on the Continent.