Treves may stand as MP
EQUITABLE Life chairman Vanni Treves may stand as an MP in the next general election, in a bid to force the government to accept the damning findings of an Ombudsman report into the life insurer’s failure.
Treves is being urged to stand as an independent member of parliament by a group of Equitable policyholders, who continue to be denied compensation from the government after losing money when the firm collapsed.
A source close to the chairman, who has led the policyholder fight since taking over in 2001, told CityA.M. he is increasingly seeing a political entry as the only way to ensure justice is done.
“He is looking for a way in which he can fight for the policyholders,” he said. “He’s very angry at the way the government has paid compensation to Northern Rock and even over Icelandic bank failures, but has not yet said anything firm about this.”