Sir Martin Sorrell has made a spectacular return to the London stock market only weeks after his acrimonious departure from one of the world’s biggest advertising groups.
The 73-year-old businessman has been appointed executive chairman today of a listed cash shell called Derriston Capital, with the intention of using it as a vehicle to create a new marketing services group.
Sir Martin has put £40 million of his fortune into the new venture and some of the City’s biggest and best-known institutional investors have committed about £11 million. Schroders, Toscafund, Lombard Odier, Miton and Lord Rothschild’s RIT Capital Partners are said to be among the backers, as well as Dowgate Capital