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Tory treasurer could net millions from controversial LV= takeover
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The Conservative party’s new treasurer could make millions of pounds from the controversial takeover of the pensions and insurance mutual LV= by an American private equity firm.
The proposed buyout has enraged some Conservative MPs – and could put them at odds with Malik Karim, an investment banker, who was named Tory treasurer in September, responsible for building the party’s election war chest.
Conservatives see the takeover as another sale of a cherished British mutual institution, and it has drawn the wrath of former Conservative deputy prime minister Michael Heseltine.
Karim is the founder and chief executive of City investment bank Fenchurch Advisory Partners, LV=’s longstanding financial adviser. Fenchurch is believed to have made
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