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

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.

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