Calvert to appeal against court rulings

A former partner at the Queen's stockbrokers who was jailed for insider dealing will appeal against his "excessive" 21-month sentence and conviction, his lawyers said yesterday.

Malcolm Calvert, who retired from the investment bank Cazenove 10 years ago, used an unknown insider to get confidential information on a series of proposed takeovers and mergers. He then directed a friend, Bertie Hatcher, to buy shares in three companies – pharmaceutical group Vernalis, road construction firm Johnston Group and water firm South Staffordshire – netting the pair £100,000, Southwark Crown Court in London heard.