A star fund manager who invested £1.5bn of his clients’ money in the scandal-hit Greensill Capital failed to report a dinner at Buckingham Palace, a £15,000 private jet trip to Sardinia, or secret fees and share options offered to his company by the since-collapsed lender, an investigation by the UK City regulator has revealed.
The details emerged in final notices given to Swiss asset manager GAM and its former top fund manager, Tim Haywood, who will pay fines of £9.1m and £230,000 respectively for their failures. Both qualified for a 30% discount by agreeing to resolve the cases at an early stage, the Financial Conduct Authority revealed.
