Banking & finance
Remnant, James, (Lord) National Life Stories: City Lives (18 of 26) National Life Stories: City Lives
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1993-16-12, 1994-08-02, 1994-02-03, 1994-22-03, 1994-14-04, 1994-24-05, 1994-01-06
Is part of (Collection)
National Provident Institution offices, London
Remnant, James, (Lord), 1930-, (speaker, male)
Courtney, Cathy, 1954- (speaker, female)
Part 18 (tape 9 Side B): Peter Gray case cont. Loyalty of Gray's wife (former secretary at Morgan Grenfell). Touche Remnant spent a quarter of a million each year on flying over and entertaining Touche Remnant Advisory Board and their wives. Gray's wife returned personalised jewel box given to wives as part of the celebration plus vituperative letter. Candidates who might have been employed instead of Gray. Philip Chapel, candidate who later became important to investment trust. Further details about role of dinners during recruitment process. Peter Gray case disastrous to investment trust, lost position relative to comparable firms. Problem that investment trust run by so many managers. Originally run as co-operative, led to need for approx 50 people to be consulted and to come to agreement - became almost unmanageable. Contradictions posed by unit trust business. Details of other activity at this stage - eg 17% of funds under management subject to successful takeover bid. Peter Gray case lost trust of pension fund trustees, withdrew their business. Staff morale became very bad. JR felt lonely during Peter Gray problems, talked to Serena. Relationship with financial press during Peter Gray case. Details of PR companies employed. Staff position after Peter Gray's departure. After four or five years Paul Manduca became senior.
Interview with James Wogan Remnant, 3rd Baron Remnant, Director of the Bank of Scotland (1989–1996).