Rose's rescue plan for M&S is unlikely to involve cashing in the chips on financial services business M&S Money just yet.
The City has put a price tag of up toÂŁ855 million on the business, but an internal review conducted during Roger Holmes' reign concluded that it should be kept in-house.
The M&S Financial Services business, renamed Money last year, holds personal loans, insurance, savings and pension products in its purse and investedÂŁ60 million in the launch of credit card offering &More last year.
Money is one of M&S's best-performing divisions, but is yet to realise its full potential. It generated an operating profit ofÂŁ86.4 million last year, and analysts predict it could double profits by 2007.
Money offers an attractive nest egg that could be spun off further down the line.
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