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Trading places

Article Abstract:

Many City practitioners want to move into industry and often have both financial resources and contacts enabling them to put their ideas into practice. Michael Ward, formerly of merchant banks Morgan Grenfell, Samuel Montagu and SG Warburg, turned a listed Irish shoe manufacturer into European Leisure, buying nightclubs and other leisure assets. However illegal buying to prop up the share price and an SFO investigation eventually put Ward behind bars. Other examples of changes of direction are given including Noel Hayes who left Kleinwort Benson to turn Ross, a headphones importer, into a mini-conglomerate.

Analysis, Career changes

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Trading places: the success stories

Article Abstract:

Paul Pindar, managing director of Capita, and David Roper, deputy chief executive at Wassall, have both moved into industry after working in the City of London financial center, England. Pindar helped deal with a management buy-out for Capita while he was working for 3i in 1987. He bought his way into the company after Capita offered him the finance manager's job, and he later became managing director. Roper put up 1 million pounds sterling to become deputy chief executive at Wassall in 1988, and had to take out a loan to pay this.

Diversified Companies, Employment Placement Agencies, Employment agencies, Officials and employees, Conglomerate corporations, Economic aspects, Wassall PLC, Employment services, Capita Group PLC

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