Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Labour cuts ties with troubled Co-op Bank

Labour cuts ties with troubled Co-op Bank

Labour is to end its long standing relationship with Co-op Bank, following a troubled year that saw its former chairman Paul Flowers (pictured) resign in a storm of controversy.

According to the BBC, the party is moving a £1.2 million loan to the Unity Trust Bank, with the rest of its current account facilities to follow.

'The Labour Party is constantly reviewing its financial arrangements and all decisions including any loan consolidations will be taken for commercial reasons,' a spokesperson said.

Flowers is now facing drug possession charges. A report out next week is expected to blame poor governance for the near collapse of the Co-op Bank.  

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 Volatility spike: How ETFs can soften the blow

Volatility spike: How ETFs can soften the blow

ETFGI’s Deborah Fuhr discusses the role of ETFs in client portfolios during volatile market conditions

Play Winter market warmers, the post QE world and timing the FED

Winter market warmers, the post QE world and timing the FED

This week’s episode of Investment Pulse looks at the winding down of quantitative easing, whether to try and time a Federal Reserve rate rise and if strong seasonal performers can reverse recent market slumps

Play JPM’s Negyal: Back divis to temper EM volatility

JPM’s Negyal: Back divis to temper EM volatility

Omar Negyal, co-manager of the JPMorgan Global Emerging Markets Income trust, says a dividend approach to emerging markets reduces the volatility of investing in the asset class.

Wealth Manager on Twitter