Thursday, 25 August 2016
Last updated 2 hours ago
Feb 23 2010 | 7:45am ET
Former Man Group CEO Stanley Fink will step down as co-treasurer of Britain’s Conservative Party following this year’s election, one the Tories are widely expected to win.
Fink, who now runs hedge fund International Standard Asset Management, has served in the post alongside fellow financier Michael Spencer since last January. He has been a major donor to the Tories, giving millions to a party that has been out of power since 1997. Since his appointment as co-treasurer, he has raised millions more for the Tories.
In an interview with The Times of London, Fink opened the door to staying on in the post in the event of a hung parliament, in which no party is able to cobble together a majority. But he acknowledged, “In all probability, I will not be doing that job in a year’s time.”
Spencer has already announced his intention to step down.
The general election is expected to come in May. The Conservatives have enjoyed a consistent, if narrowing, lead in the polls over Prime Minister Gordon Brown’s Labour Party.
Fink said he would consider a “continuing role” with the Tories, and will likely be rewarded for his efforts with a seat in the House of Lords should Conservative Party leader David Cameron be the U.K.’s next prime minister.