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.

MPs argue Sants knighthood discredits honours system

10 Comments
MPs argue Sants knighthood discredits honours system

MPs have hit out at the decision to award former Financial Services Authority (FSA) chief executive Hector Sants a knighthood claiming it discredits the honours system, according to reports.

The Financial Times reported that MPs Douglas Carswell, a Conservative MP for Surrey, and Pat McFadden, Labour MP and member of the Commons Treasury committee, criticised the decision, with Carswell telling the paper: ‘a knighthood is becoming almost as debased a currency as the British pound'.

McFadden told the FT: ‘At a time when the country is still paying for the financial crisis, I think most people will find it odd that someone in a key regulatory position during that period ends up being knighted – especially when British heroes like Mo Farah were not.’

The paper said Sants was thought to have been recommended for the knighthood by chancellor George Osborne, who persuaded him to revoke his decision to quit as head of the FSA after the 2010 election.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Brewin's Gutteridge: Yuan direction

Brewin's Gutteridge: Yuan direction

This week Brewin Dolphin's research head chats to Fidelity Asian Investment Directors Jenny Lee and Gary Monaghan about the big changes in China.

Play On the Road Challenge: horsing around on the polo pitch

On the Road Challenge: horsing around on the polo pitch

Libby Ashby takes to the polo pitch with Stuart Leigh-Davies from Redmayne-Bentley for an 'On the Road' challenge.

Brewin's Gutteridge: where Miton's Godber sees value

Brewin's Gutteridge: where Miton's Godber sees value

This week Brewin Dolphin's research head talks to George Godber, co-lead fund manager of the Miton UK Value Opportunities fund, about value investing.

Your Business: Cover Star Club

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Rathbones’ Glasgow office has only been open for three months but the team, led by Angus Kerr, has already attracted new clients

Wealth Manager on Twitter