Red Kite Chief Named U.K. Conservative Party Treasurer

Feb 7 2012 | 12:19pm ET

The U.K.'s ruling Conservative Party has swapped hedge fund managers at the head of its campaign war chest.

RK Capital Management founder Michael Farmer, who has given the party some £3 million, was named co-treasurer. He succeeds Stanley Fink, the former Man Group CEO who now leads hedge fund International Standard Asset Management, and who was rewarded with a peerage for his work helping put the Tories into office a year-and-a-half ago.

Fink, who will also leave the Tories' board, is stepping down to focus on "business interests and philanthropic work." He had originally planned to step down after the May 2010 election, but agreed to stay on after his designated successor declined the post.

The appointment of Farmer is sure to cause some controversy: Farmer, whose fund rose 47% last year, said during the 2010 election, "you can call me a City fat cat if you want, but I'm not giving away my hard-earned money for fun. I'm giving it away because I want to fund something I genuinely believe: that Cameron and the Tories will be a far better government for the country than Labour."


In Depth

Q&A: MackeyRMS's Chris Mackey On A High Tech Fix To Broker Votes

Jun 23 2017 | 8:17pm ET

The looming implementation of the EU’s MiFID II rules regarding research has put...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: Asia-Focused Hedge Funds Offer Great Opportunities

Jun 23 2017 | 3:33pm ET

Emerging market strategies have outperformed their developed-market peers for five...

 
Error

From the current issue of