Cloaca Maxima Ltd

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Cloaca Maxima Ltd, based at Dean Trench Street in London is a secretive consultancy set up by Dennis Stevenson in 1996 [1]. It is named after a large Roman Sewer [2] and is used by Stevenson to channel funds from corporations on the board of which he sits. For example the 2002 Annual Report of HBOS noted that:

The fee payment to Dennis Stevenson comprises payments made to him personally and to Cloaca Maxima (of which company Dennis Stevenson is a director) in respect of the provision of his services as Chairman of the Group of £472,500 (2001 - £350,000) and payments made in respect of his services as a Director of St James's Place Capital of £nil (2001 - £12,500) where his directorship ended on 21 February 2002.

One of the directors of Cloaca Maxima is Heneage Stevenson, trustee of the arts organisation Second Movement and development manager at Bee Bee Developments [3], a company that was the largest landowner in mid-town London. On its website, Bee Bee Developments claims to have relationships with a number of private sector organisations, particularly banks, including Halifax Bank of Scotland [4]

What is in a name

Observation: Cloaca is a technical biological term for the "anus analog" in some primitive organisms (fishes, certain birds, and some mammalians); it also means: "A sewer or a privy". Given the nature of the name, one suspects that it was coined in jest, and thus indicates the nature of the organization.


  1. ^ Companies House, last accessed 01/02/07
  2. ^ Wikipedia Cloaca Maxima
  3. ^ Second Movement, last accessed 01/02/07
  4. ^ Bee Bee Developments , last accessed 01/02/07