WestLB has decided not to launch a separate fund led by Robin Saunders, its head of principal finance, and will instead keep her group and its investments in-house.

Saunders, one of the highest profile female bankers in the European markets, has been keen to gain more independence from WestLB, which would lead to higher rewards for herself and her team. Financial News revealed in July that she was in early discussions with the bank to gain more independence through bringing in more third-party investors in her operation.