Paula Sherriff – 2016 Parliamentary Question to the Department for Transport

The below Parliamentary question was asked by Paula Sherriff on 2016-02-23.

To ask the Secretary of State for Transport, what work Citigroup is conducting for Network Rail in relation to the ownership of railway stations; what fee has been paid to Citigroup for such work; and when the review into the ownership of railway stations is expected to report.

Claire Perry

Network Rail is exploring new models for the management and ownership of its 18 managed stations with the goal of bringing improvements for both passengers and the communities they serve. They have engaged Citigroup as advisors to consider a range of potential options. No decisions have yet been taken and no estimate of the potential value of these stations has been made as part of this work. Citigroup were appointed following a competitive tender process, and the details of their fee are commercially confidential.

Network Rail expect that this work will be presented to their Board by the end of 2016.