Shawyer quits role on M&S Bank’s board

Tim Wallace
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M&S BANK non-executive director Peter Shawyer resigned from the board this month, it was announced yesterday, after 19 months at the bank.

“Peter Shawyer has made the decision to retire from his role as a non-executive director at M&S Bank due to the ill health of his wife,” said a spokesperson for the bank.

Shawyer is chairman of Ingenious Media Holdings, an investment group which is battling with HM Revenue and Customs over a change in the way the authorities treat tax relief on film investments.

And he is an LLP member at Phoenix Film Partners, which is also engaged in a row with the taxman. A swathe of celebrities have been caught up in the cases, accused of aggressively trying to avoid taxes.

In October, Shawyer said he wanted the Ingenious case to be processed rapidly, as he is confident the firm will be found to have done nothing wrong. He has not left his role at Ingenious, which he has held since 2008.

M&S Bank is fully owned by HSBC, which bought out the lender in 2004. Shawyer is a veteran of the giant global bank. He was a non-executive director for almost a decade, from late 2004 to January 2014.

Shawyer was also a tax expert at Deloitte, where he reached the role of managing partner. He left the firm in 2004.

HSBC, other giant banks and the big accounting firms have all come under increased scrutiny in recent years as political pressure has grown on businesses to make sure they and their clients pay not just the legally required amount of tax, but also the level desired by legislators.

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