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BlackRock fund manager loses job over £43k fare dodge

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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.'

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Profile: The opportunity set that attracted Brett Williams to wealth management

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Brett Williams is best known for helping to build some of the biggest platforms in the IFA market.He made the move over to wealth management to head SEI’s UK business earlier this year in the belief that this is where the best opportunities now lie.

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