RawCorporate advisers in the Midlands are braced for the loss of one of the region’s top players as Royal Bank Private Equity (RBPE) finalises plans to scale back its Birmingham branch.

The private equity house, one of the city’s biggest, is understood to be winding down its Birmingham arm following the departure of office head John Dillon, who moved to rival Royal London Private Equity in May this year and has not been replaced.