Hermes chief stands as Labour councillor

Gabriella Griffith
ANYONE browsing through the candidates list for the position of councillor in the Royal Borough of Kensington and Chelsea this week might be surprised to find Saker Nusseibeh, chief executive of Hermes Fund Managers, running as a Labour candidate (especially given Ed Miliband’s fairly overt distaste for hedge funds).

But the famously contrarian Nusseibeh – who launched the 300 Club in 2012 to ask uncomfortable questions about the investment industry – insists it’s not a political move.

“My political views are clear – that the privileged should help the underprivileged,” he told The Capitalist. “I do not agree with everything Labour says, I don’t agree with everything David Cameron says, I’m standing for my local council so I can help my community a bit, I’ve no interest in a political career.” Chuka Umunna’s job is safe for now then...