Ex-minister Paul Myners was responsible for the financial services industry in the UK during the banking crisis
Paul Myners, the former UK City minister and shareholder engagement advocate, has joined Cevian Capital as chairman of the investment firm’s UK operations.
Myners, who joined the UK government during the banking crisis in 2008, will have the chance to put his ownership principles into practice through Cevian’s €3.5 bn ($5 bn) in assets under management.
Cevian and Myners are a good fit: the investment company prides itself on being an active manager and concentrates on a small portfolio of stocks – typically 10-12 at a time – to maximize its effectiveness.
Formed in 2002, Cevian focuses on companies in the Nordic region, German-speaking countries and the UK.
‘[Cevian’s] investment strategy entails a long-term horizon, a concentrated portfolio, a plan to add value to each of its companies through constructive involvement, and collaborative efforts with and on behalf of other major shareholders,’ comments Myners in a statement.
‘Cevian’s approach embodies many of the principles I believe are important not only for successful investing, but also for society to maximize economic value from its capital and corporate assets.’
