Resolution seen unlikely to return for B&B

LONDON (Reuters) - Entrepreneur Clive Cowdery is unlikely to return with an investment plan for Bradford & Bingley as it wouldn't fit his plan to consolidate UK lenders into an AA rated bank, according to a person familiar with the matter.

A spokesman for Resolution, Cowdery's restructuring vehicle, said it would be "watching the banking sector to see how it develops alongside other financial services opportunities this summer," but declined to comment further.

The source said a move to spearhead its consolidation plan by investing 400 million pounds ($793.6 million) in B&B, which was rejected by B&B's board last week, was unlikely to be revisited after Moody's downgraded its credit rating on the bank. That prompted U.S. private equity firm TPG to pull out of buying a 23 percent stake in B&B.

(Reporting by Steve Slater; Editing by Mike Elliott)