Fink, Flight Are Named as Conservative Lords in U.K.
Hedge-fund executive Stanley Fink and investor Howard Flight were among 27 backers of Prime Minister David Cameron’s Conservative Party appointed to serve as legislators in the U.K.’s unelected House of Lords.
Fink and Flight will be joined on the Conservative benches by the party’s co-chairman, Andrew Feldman, former ITV Plc Chairman Michael Grade and Patience Wheatcroft, the editor of Rupert Murdoch’s Wall Street Journal Europe.
A total of 54 people were named as new lords by Cameron today. Fifteen are from the prime minister’s Liberal Democrat coalition partners, and 10 from the opposition Labour Party, including Gulam Noon, chairman of Noon Products Ltd., which makes Indian ready meals for U.K. supermarkets. There is one Welsh nationalist and one independent, Richard Dannatt, the former head of the armed forces.
“The coalition agreement said we would continue to appoint peers and those appointments would reflect the balance of the outcome of the general election,” Cameron’s spokesman, Steve Field, told reporters in London. “There is an established process on appointing peers and that is they are vetted through the Lords Appointment Commission.”
Field said that during Labour’s 13 years in office, 84 Conservative, 203 Labour and 64 Liberal Democrat peers had been appointed. After today, the Conservatives will have 220 members of the Lords, Labour 244 and the Liberal Democrats 94. There will also be 182 independents, 26 members of smaller parties and 25 bishops.
Fink’s investments in trend-following hedge funds lifted Man Group Plc’s assets more than 10-fold in his seven years as chief executive officer to 2007. He became CEO of International Standard Asset Management a year later. As Conservative co- treasurer, he helped the party to its best fundraising year in 2009.
Flight resigned as deputy chairman of the Conservatives in 2005 after he was recorded saying that the party would cut spending more than it had pledged publicly in the run-up to that year’s election campaign. Flight chairs Guernsey-based investment company Loudwater Trust Ltd.
Also on the Conservative benches will be Fiona Shackleton, a divorce lawyer whose past clients include Prince Charles, Paul McCartney and John Cleese. She’ll be joined by Julian Fellowes, the Oscar-winning screenwriter of the movie “Gosford Park” and this year’s ITV drama “Downton Abbey”; Michael Dobbs, an author and former adviser to Margaret Thatcher; and Rachael Heyhoe-Flint, a former captain of the England’s women’s cricket team.
Among the Labour names is Stewart Wood, a former aide to Gordon Brown who hit the headlines in March over reports that the former prime minister had shoved him aside in a fit of rage.
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