Difference between revisions of "Glen Moreno"

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'''Glen Moreno''' is Chair of
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'''Glen Moreno''' is the California-born financier who became Chairman of [[UK Financial Investments]] (UKFI) in Jan 2009, the body set up in late 2008 to manage the Government's £37bn shareholding in Britain's bailed-out banks.
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Few in Britain had heard of the California-born financier Glen Moreno before he became chairman of Pearson, the media group which owns the FT, in 2005. After Stanford University and Harvard law school, Moreno, spent 18 years at Citigroup in Europe and Asia moving to London as group executive for investment banking, responsible for corporate finance and trading operations.
 
  
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From 1987 to 1991 he was chief executive of the fund management group Fidelity International and was largely responsible for its rapid growth. He is also a senior independent director of Man Group, the FTSE100 financial services group.
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==Career==
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Moreno, spent 18 years at [[Citigroup]] in Europe and Asia moving to London as group executive for investment banking, responsible for corporate finance and trading operations.
  
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At the time of his £450,0000-a-year appointment at Pearson, critics attacked Moreno's lack of experience in the field of education. But his wife, sister and mother are teachers, and that was said to give him a "particular sympathy" to the education business, a key part of Pearson.
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From 1987 to 1991 Moreno was chief executive of the fund management group [[Fidelity International]] and was largely responsible for its rapid growth. He is also a senior independent director of [[Man Group]], the FTSE100 financial services group.
  
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Since his appointment last month as chairman of the body that oversees the government's £37bn shareholding in Britain's bailed-out banks, it has emerged he was paid hundreds of thousands of pounds during a nine-year association with Liechtenstein Global Trust, a private bank. LGT, owned by the Liechtenstein royal family, became the subject of scandal last year over allegations that it aided tax evasion among clients. Moreno quit as a trustee last April, two months after it was reported that financial details of thousands of clients had been passed to German authorities.
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In 2005 Moreno became chairman of [[Pearson]], the media group which owns the FT.
  
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13 February 2009
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For 9 years he was also associated with [[Liechtenstein Global Trust]], a private bank. LGT, owned by the Liechtenstein royal family, became the subject of scandal in 2008 over allegations that it aided tax evasion among clients. Moreno quit as a trustee in April 08, two months after it was reported that financial details of thousands of clients had been passed to German authorities.<ref>[http://www.guardian.co.uk/business/2009/feb/13/banking-economy-glen-moreno Glen Moreno: Financier who changed sides], Guardian, 13 February 2009</ref>
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==References==
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<references/>
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[[Category: Financial sector lobbying]]

Revision as of 12:39, 18 February 2009

Glen Moreno is the California-born financier who became Chairman of UK Financial Investments (UKFI) in Jan 2009, the body set up in late 2008 to manage the Government's £37bn shareholding in Britain's bailed-out banks.

Career

Moreno, spent 18 years at Citigroup in Europe and Asia moving to London as group executive for investment banking, responsible for corporate finance and trading operations.

From 1987 to 1991 Moreno was chief executive of the fund management group Fidelity International and was largely responsible for its rapid growth. He is also a senior independent director of Man Group, the FTSE100 financial services group.

In 2005 Moreno became chairman of Pearson, the media group which owns the FT.

For 9 years he was also associated with Liechtenstein Global Trust, a private bank. LGT, owned by the Liechtenstein royal family, became the subject of scandal in 2008 over allegations that it aided tax evasion among clients. Moreno quit as a trustee in April 08, two months after it was reported that financial details of thousands of clients had been passed to German authorities.[1]

References

  1. ↑ Glen Moreno: Financier who changed sides, Guardian, 13 February 2009
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