Jack Ogston, who retires as head of corporate and structured finance for Clydesdale Bank in Scotland this month, is to use his extensive contacts to help Glasgow private equity firm Maven Capital Partners build its co-investment business with wealthy individuals and companies.

Jack Ogston, who retires as head of corporate and structured finance for Clydesdale Bank in Scotland this month, is to use his extensive contacts to help Glasgow private equity firm Maven Capital Partners build its co-investment business with wealthy individuals and companies.

Ogston's appointment as an independent non-executive director of Maven was revealed to The Herald by the private equity outfit's managing partner, Bill Nixon. The pair's association dates back to when they worked together in Clydesdale's corporate banking division in the 1980s.

The directorship at Maven, which was formed last month when Nixon headed a management buy-out of Aberdeen Asset Management's private equity business, is the first role lined up by Ogston outside Clydesdale as he builds a portfolio of part-time roles. Ogston is to continue working two days per month for Clydesdale after he retires from his full-time position at the bank.

Ogston told The Herald that he planned to take up another two non-executive roles, both in the financial services sector. He emphasised all four roles, comprising the three new positions and Clydesdale, would be complementary and that there would be no conflict of interest.

As well as helping Maven build its co-investment business, through which the private equity house parti-cipates in deals alongside wealthy individuals and their self-invested personal pensions, family offices, and companies, Ogston will also be a member of Maven's remuneration committee.

Maven incorporates the private equity business of former Glasgow-based fund manager Murray Johnstone and the old Clydesdale Bank Private Equity unit, as well as Aberdeen Asset's other long-standing operations in this sector. Nixon headed the Clydesdale Bank Private Equity business which was bought by Aberdeen in 1999.

Ogston, who has worked for Glasgow-based Clydesdale Bank for nearly 36 years, said of his planned part in building Maven's co-investment business: "Over that period of time, and particularly over the last 20 years, I have built up a lot of contacts, kind of high-net-worth individuals etcetera. It is just (about) trying to make introductions to those guys where co-investment might be of interest to them and to Maven as well. It is just using the contacts built up over the years to help on that front."

Nixon said: "I worked with Jack at Clydesdale in the late-1980s and we have enjoyed a strong working relationship for the past 20 years. I am obviously delighted he is getting involved."

Nixon and Ogston have, in their roles at Aberdeen Asset Management and Clydesdale, worked together on deals in more recent times.

Maven manages about £160m for some 9000 clients.

It runs seven venture capital trusts and several other funds.