Alan Taylor, a former chief executive of the UK's GUS Home Shopping division, has been hired as a managing director of a 12-strong London team at GB Palladin Capital, a US private equity firm. He will help identify European retail opportunities.

Taylor, who has almost 30 years' experience in the retail sector, said: "I am gamekeeper turned poacher. I can use my contacts in private equity, retail management and banking to find deals and we will be able to provide deeper insights doing due diligence and be much more creative in problem-solving approaches and disposal."