Thursday, 31 July 2014
Last updated 31 min ago
Jun 20 2013 | 10:40am ET
CQS founder Michael Hintze's criticism of a top British politician nearly cost him his knighthood.
After the honor was recommended by the Main Honours Committee, the government responded negatively. The issue, reportedly, was not Hintze's link to a scandal that led to the resignation of Britain's defense minister in 2011, but his criticism of Chancellor of the Exchequer George Osborne's policies.
Those attacks made him persona non grata at 10 Downing Street, the Daily Mail reports, in spite of his generosity to the ruling Conservative Party.
But his generosity to arts groups and museums ensured that he'd become Sir Michael. The beneficiaries of the more than £30 million Hintze has given away pushed back against the government, as did the Honours Committee.
"It was quite clear that the man amply deserved the honor after all his philanthropy," a committee insider told the Mail. "We pushed back and made it clear a political veto would be unwelcome."
Hintze's close ties with Prince Charles also played a role, according to the Mail; the hedge fund manager is chairman of the heir to the throne's Foundation for the Built Environment.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…