Paul Myners
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.
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]
In August 2011 Myners joined hedge-fund manager Cevian Capital as chairman of its UK operations and partner. He has the 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.
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. [3]
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. [4] [5]
Positions
Previous posts
- Land Securities, Chair
- Guardian Media Group, Chair
- Marks & Spencer, Chair
- Gartmore, a pension fund manager, Chair
- Member of the court of the Bank of England
- National Pensions Savings Scheme, chair designate. NPSS is intended to deliver cheap pensions to relatively low-paid workers.
- Powergen - PowerGen
- Aspen Insurance Holdings (AIH) - chairman.
References
- ↑ Robert Peston, Who Runs Britain? 2008, page 124
- ↑ Public Affairs News, [People Moves] August 2011, accessed Sept 2011
- ↑ Evening Standard, City Spy: Lord Myners is doing God's work too 20 January 2010, accessed 27 July 2011
- ↑ 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
- ↑ Catherine Boyle and Suzy Jagger, Pressure builds on City Minister Lord Myners to resign, The Times, 23 March 2009
