Tim Farazmand, former director at Royal Bank Private Equity (RBPE), is to resurface as chief investment officer at Catalyst, the UK venture capital firm.

Farazmand quit RBPE earlier this year and soon afterwards three of the firm's other dealmakers left for Royal London Private Equity. It is widely believed that RBPE, which is part of Royal Bank of Scotland, will either close down or be radically restructured. It is understood that senior staff at RPBE are unhappy at not getting equity and more departures are expected.