Giles Thorley, the former chief executive of Punch Taverns – who oversaw the creation of the one time 10,000-strong pub business – has joined TDR Capital, the private equity firm, as a senior consultant. He will work on a number of investments and projects for TDR, although he will not be involved in Stonegate Pub Company, the company’s 333-strong managed pub investment. Thorley, who worked in private equity at Nomura International before his tenures at the helm of Punch and Unique Pub Company, will continue as non-executive chairman at Tragus, the casual dining group owned by Blackstone. However, when he left Punch in September he agreed not to be involved directly in the pub sector as part of his severance. Thorley said he would also continue to serve on the board of Matthew Clark but that TDR would be his “main day job”. He said he would be helping to be “smarter” when it comes to buying and running different companies. He said: “The last few years have been tough for everyone, thanks to the recession. You can’t assume businesses you buy will increase in value just because you hang on to them: you’ve got to run them better.” TDR Capital was an investor in Punch when Thorley was recruited in 2001 as executive chairman. He later oversaw several large acquisitions including the purchase of Spirit Group in 2006 for £2.1bn.