Sir Victor Blank, the retail and media expert who currently chairs the high street banking group Lloyds TSB, has become senior UK adviser to TPG, the buyout giant.

Until last year Sir Victor, 64, was chairman of GUS, the retail conglomerate that used to own Burberry, Argos and Homebase.

He also previously chaired Trinity Mirror, the owner of the Daily Mirror newspaper that earlier this year carried out a full strategic review of its operations under chief executive Sly Bailey.

Sir Victor is a former partner at Clifford Turner, the consultancy firm that is now Clifford Chance and was a director of Royal Bank of Scotland between 1985 and 1993.

He joins a raft of other senior country advisers to TPG, including businessmen Bernard Attali, who advises the buyout group in France, and Ludolf von Wartenberg, who works for the firm in Germany.

David Bonderman, founding partner at TPG, said: “Sir Victor is one of Britain’s most experienced and highly respected corporate stewards. We are delighted and honoured to welcome Sir Victor to the TPG family."

Sir Victor is no stranger to private equity. He spent time as chairman and chief executive of Charterhouse, a smaller buyout firm based in Europe, leaving in 1997.

It is understood that TPG is keen to use Sir Victor as a "public face" for its business activities in the UK. His job is a part-time advisory one, "spotting opportunities and making introductions", according to sources.

TPG manages a total of $35 billion of assets. It is part of the consortium that owns Debenhams, the department stores retailer, and is hotfoot from a successful bid for Continental Airlines.

It is in the process of tabling a firm and final offer for MidWest Airlines and is part of the British Airways-led consortium that is bidding for Spanish airline Iberia.

TPG is also one of a number of parties circling Jaguar, the luxury car marque owned by Ford, the US auto giant.

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