HomeBusinessLink Fund Solutions boss steps down amid scrutiny of Woodford role

Link Fund Solutions boss steps down amid scrutiny of Woodford role


Link Fund Solutions boss steps down amid scrutiny of the firm’s role in the Neil Woodford scandal


The boss of Link Fund Solutions has stepped down amid scrutiny of its role in the Neil Woodford scandal.

Chris Addenbrooke, at the company for more than 34 years, was removed as a director of Link this month, according to filings on Companies House.

Link was the responsible for supervising Woodford’s management of his Equity Income fund, which collapsed in 2019 causing losses for millions of savers. 

Chris Addenbrooke (pictured), who has been at Link Fund Solutions for more than 34 years, was removed as a director earlier this month

It is being investigated by the Financial Conduct Authority (FCA) for its role in the affair, and is the target of a lawsuit from Woodford investors.

Link said Addenbrooke’s resignation was nothing to do with the debacle. A spokesman said: ‘Chris Addenbrooke has taken the decision to retire and is stepping down from his role as chief executive.’

Savers are waiting for the FCA to deliver its report into the collapse. The FCA is undertaking ‘legal analysis’ to decide if action should be taken against any of the parties involved.

Lawyers say Link ‘failed to do its job’ in protecting investors. But Link’s lawyers, Clifford Chance, said they would ‘vigorously’ defend the firm.

Advertisement



Source link

Must Read