UK- 3i's Graeme Sword resigns

Sword has been replaced by Mike Sibson and Mark Kerr, who have been promoted from the oil, gas and power team.

Sword's leave has sparked rumours that 3i may cut back on its Aberdeen-based oil, gas and power team or move the group to London.

In April, Sword resigned as 3i's representative on the board of Venture Production, leading people to believe the group was prepared to sell its minority stake in the oil and gas company.

It has been reported that 3i has said Sword left to pursue 'new challenges'.

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