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Standard Life’s Cumming Attacks U.K. Over Banks, Telegraph Says

Jan. 25 (Bloomberg) -- David Cumming, head of equities at Standard Life Plc’s investments unit, warned the U.K. coalition that there were financial and economic consequences attached to a policy of accommodating “public hostility” to the country’s banks, the Daily Telegraph reported, citing an interview.

Continuing uncertainty would trigger a chain reaction of falling profit and an eventual curb on lending; Standard Life holds large stakes in HSBC Plc., Lloyds Banking Group Plc, and Barclays Plc, the newspaper said.

Story link: {NSN LFKF6B6KLVR4<GO>}

To contact the editor responsible for this story: Chris Peterson at cpeterson@bloomberg.net

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