Lehman Brothers Holdings Inc.’s former U.K. head of investment banking, Michael Tory, was the biggest donor to Britain’s Conservative Party in the first list of pledges made public before next month’s election.
Tory, who co-founded advisory boutique Ondra Partners in 2008 after Lehman collapsed in the financial crisis, made a 75,000-pound ($111,870) donation to Prime Minister David Cameron’s party last month, Electoral Commission data for the week through April 5 published on Thursday show. He’s among a group of financiers who helped the Tories, as Britain’s Conservatives are known, raise 501,850 pounds.
The Labour party got 1.9 million pounds from trade unions and wealthy donors, including a 250,000-pound donation from property executive David Garrard.
Labour leader Ed Miliband has spooked the City of London, as the U.K.’s financial district is known, with plans to crack down on tax breaks used by hedge and private equity funds and impose a levy on bankers’ bonuses. ICAP Plc Chief Executive Officer Michael Spencer said on Wednesday he might consider moving his firm overseas if Labour takes power after the May 7 vote.
The Electoral Commission, which records British political donations, plans to publish three more sets of pledge data before the vote. The nation’s major parties must report donations and loans of more than 7,500 pounds.