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○■ Wilbur Ross, investor in Virgin Money and has a reputation for surprising people - even trade unionsHanging proudly in the Manhattan office of Wilbur Ross is a framed magazine cover asking whether he is crazy. It is a thought that has come up more than once in the 72-year-old's long career ON Wall Street. The billionaire investor specialises in buying stakes in distressed industries: everything from coal and textiles through to the bombed-out US mortgage market. To his critics and he is the archetypal vulture investor - preying ON the misfortune of others. To his supporters, of whom there are a surprising number even in the US union movement and he is a brave turnaround expert who can breath new life into companies others have given up ON. In 2004 he rolled up the battered remnants of the US steel industry and sold it to Lakshmi Mittal for $4.5bn (£3bn). More recently and he has been attempting a similar transformation with the car parts industry to less universal success. In 2008, British car parts group Wagon went into administration despite rescue financing from Ross. He has had his eye ON the banking industry almost ever since the sub-prime debacle and making a number of forays into US mortgages. Whether he manages the same trick with Britain's banking industry depends more ON Virgin and Richard Branson than it does ON Ross who, unusually, appears to have taken a back seat and but his presence certainly gives Virgin the firepower it may need to take ON larger rivals such as Santander.Ross is not a complete stranger to British business. Though still a relatively unknown in London and he cut his teeth in New York as a restructuring adviser for British bank Rothschild during the 1980s at a time when US investment bank rivals were largely barred from the industry. He bought out the Rothschild Whether or not as for the Will bar loss person, investment and the frame magazine of [vuajinmane] he thinks, or that it is Cray Gee, - unionsHanging transacts the reputation for the unexpected people who are the cover proudly at the Manhattan of Will bar loss office
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