Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

BlackRock fund manager loses job over £43k fare dodge

2 Comments
BlackRock fund manager loses job over £43k fare dodge

BlackRock fund manager Jonathan Burrows has lost his job after evading £43,000 worth of train fares.

Burrows, who was head of UK portfolio solutions at the asset manager, is understood to have skipped his fare in a 1 hour and 22 minute commute between Stonegate in East Sussex and central London.

He is reported to have been caught out after an inspector realised he had failed to swipe his Oyster card at the start of his journey, meaning he was only charged £7.20 for the commute, which is supposed to cost in the region of £4,500 annually.

A further probe revealed Burrows had stopped buying a season ticket in 2008.    

Thought be the biggest fare dodger in history, Burrows had hoped his name could be kept out of the public eye and protect his career if he settled the debt quickly.  

However, the Financial Conduct Authority (FCA) got wind of his behaviour and begun an investigation into whether Burrows was a 'fit and proper' person.

It is claimed that Burrows warned his bosses last week that they were likely to get a call from the City watchdog.

He was immediately suspended from the firm and subsequently resigned, ending his 19 years at the organisation.

A spokesperson for BlackRock said: 'Jonathan Burrows has left BlackRock. What he’s alleged to have done is totally contrary to our values and principles.'

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Biotech Growth: we will ride out this storm

Biotech Growth: we will ride out this storm

Geoffrey Hsu of Biotech Growth Trust says the sell-off in biotechnology stocks represents a buying opportunity for long-term investors.

Play Picton: the UK property hotspots for rental income

Picton: the UK property hotspots for rental income

Picton Property Income CEO Michael Morris reveals how he is planning to ride the ‘ripple effect’ as UK economic growth spills out from the capital across the country.

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

This week Brewin Dolphin's head of research talks to Mike Riddell, fund manager at Allianz Global Investors, about the forces driving bonds markets in a tumultuous week for markets.

Your Business: Cover Star Club

Profile: PortfolioMetrix is on a mission to kill 'Frankenstein' systems

Profile: PortfolioMetrix is on a mission to kill 'Frankenstein' systems

In a buyers’ market for off-the-peg discretionary management, self-funded start-ups begin at an inherent disadvantage

Wealth Manager on Twitter