Saturday, 28 February 2015
Last updated 18 hours ago
Feb 7 2012 | 11:19am 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."
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…