THE CITY’S alumni were well-represented in the General Election, with varying fortunes.
Chis Chope – a former Ernst & Young consultant – kept the Christchurch Conservative safe seat he has held since 1997 and Sajid Javid – a former high flyer at Chase Manhattan Bank and Deutsche Bank – is tipped for a cabinet promotion from Culture Secretary to Business Secretary.
Meanwhile Ian Blackford, a former NatWest Securities and Deutsche Bank executive, became the new SNP MP for Ross, Skye & Lochaber, unseating Charles Kennedy after his long reign.
On the flip side, former JP Morgan and Barclays investment banker turned MP David Laws was swept away from his Yeovil seat in the Lib Dem rout, as was Lewisham Deptford Lib Dem candidate Michael Bukola – a former HMRC and Deloitte tax expert.
Not that any of them should be too dismayed. As anyone in the world of finance knows, your stock can go either up or down.
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■ It’s not rare for top figures in the world of finance to be associated with the UK’s leading football clubs. Former Goldman Sachs head Jim O’Neill was famously part of a takeover bid for Manchester United (before the Glazers snapped it up), while ex Barclays boss Bob Diamond has been pictured grinning next to captain John Terry after Chelsea won the FA Cup in 2012. Meanwhile regular visitors to the Arsenal include outgoing Prudential chief executive Tidjane Thiam, and recently-ousted Standard Chartered CEO Peter Sands. Yet bond guru Mohamed El-Erian, formerly head of Pimco, has more modest taste when it comes to the beautiful game. “So sad to see QPR relegated from the Premier League,” he tweeted yesterday. “And in such an ugly manner. Some of us had hoped until the last moment… Go figure!” With a £58m fine hanging over the west Londoners and the inevitable financial hit of relegation to come, perhaps El-Erian could help them out with a spot of pro bono financial advice.