STANLEY Fink has decided to follow in the footsteps of Michael Spencer and step down as Conservative party co-treasurer after the general election.
The announcement comes in the same week that Fink’s hedge fund, International Standard Asset Management (ISAM), said it would launch a new fund to rival his former employer Man Group. Spencer, chief executive of Icap, resigned just a week before Fink in order to try and turn around the fortunes of the struggling inter-broker dealer. The two City grandees have used their contacts to boost the party’s fortunes and together managed to raise £75m since David Cameron became party leader. But, like Spencer, Fink has reservations about Conservative plans for the 50 per cent top rate of tax.
There had also been talk that he would resign his post as treasurer in order to take a top post in a David Cameron government.