Paul Myners

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Revolving Door.jpg This article is part of the Revolving Door project of Spinwatch.


Twenty-pound-notes.jpg This article is part of the Lobbying Portal, a sunlight project from Spinwatch.
Paul Myners, Source: Public Affairs News

Baron Paul Myners (born 1 April 1948) was Financial Services Secretary - or City Minister - in the UK Treasury department until May 2010. He was made a minister and peer by former Labour Prime Minister Gordon Brown in October 2008.

Since leaving the government, he has been chairman of lobbyists Huntsworth and is currently the chairman of Edelman.

Robert Peston of the BBC says of Myners:

If there is such a thing as a Brownite establishment class, Myners would be one of its elders.[1]

Revolving door roles

In August 2011 Myners joined hedge-fund manager Cevian Capital as chairman of its UK operations and partner. He was bound to a standard two-year lobbying ban from the Advisory Committee on Business Appointments.[2] Other post government roles include his appointment as Chairman and a Managing Partner of Autonomous Research LLP (January 2011), non-executive Chairman of Justice HoldingsLtd (from January 2011) and non-executive Director of RIT Capital Partners (from August 2010), all subject to the two-year lobbying ban. He is also a director of Ecofin plc, an investment trust, OJSC MegaFon, a Russian mobile voice and data and chairman and director of Nomad Holdings Ltd investment company.[3]

Myners was chairman of the Huntsworth Group briefly in 2014 for six months until October. He was replaced by businessman Derek Mapp, the non-executive chairman of the FTSE 250 media company Informa, non-executive chairman of Salmon Developments and executive chairman of Imagesound.

In April 2015 he was appointed Edelman's first UK chairman since Nigel Whittaker in 2002. He will act as a non-executive chairman to the lobbyists and will continue his role as chairman of the London School of Economics and Political Science. At Edelman he will provide strategic counsel to chief executive Ed Williams.[4]

Activities

Myers is worth a reputed £30 million after a lifelong career in fund management, including as CEO of fund managers Gartmore for many years.

He came to prominence as the Treasury minister who agreed Sir Fred Goodwin's outsize pension arrangements at Royal Bank of Scotland. [5]

In 2009 the Sunday Times revealed he had earned £200,000 in a year as chairman of Aspen Insurance Holdings, a company based in the tax haven of Bermuda that had avoided paying more than £100million a year in taxes. [6] [7]

Positions

Donations

Recorded by the Electoral Commission:

Date Name of donor Amount Donated to
05/052007 Mr Paul Myners £9,700.00 The Rt Hon Gordon Brown MP
25/06/2007 Mr Paul Myners £3,000.00 The Rt Hon Gordon Brown MP
30/04/2015 Mr Paul Myners £5,000.00 The Rt Hon Tessa Jowell MP
21/04/2016 Mr Paul Myners £25,000.00 Britain Stronger in Europe
[9]

Previous posts

References

  1. Robert Peston, Who Runs Britain? 2008, page 124
  2. Public Affairs News, [People Moves] August 2011, accessed Sept 2011
  3. Lord Myners Parliament.UK, accessed 22 December 2014
  4. Rod Muir Myners takes Edelman top job Public Affairs News, 28 April 2015, accessed 30 April 2015.
  5. Evening Standard, City Spy: Lord Myners is doing God's work too 20 January 2010, accessed 27 July 2011
  6. City Minister pockets £200,000 from company he set up in Bermuda that dodged £100million a YEAR in taxes, Mail on Sunday, 22 March 2009, accessed 24 March 2011
  7. Catherine Boyle and Suzy Jagger, Pressure builds on City Minister Lord Myners to resign, The Times, 23 March 2009
  8. Electoral Commission, Donor search EU referendum, accessed 13 May 2016
  9. Electoral Commission, Paul Myners Donation Search, accessed 21 June 2016