Sir Ronald Cohen stepping down as head of Big Society Capital
Sir Ronald Cohen, the veteran financier, is stepping down as chairman of Big Society Capital, the government-backed social investment bank set up a year ago to help charities and community projects.
Sir Ronald, 67, will remain on the board but intends to devote more time abroad on social investment projects that seek to plough private-sector money into running for-profit schemes in prisons, for the elderly and long-term unemployed. A search has begun for a new chairman.
"I said once it's operational I'll pass the baton to a new chair," said Sir Ronald, who set up the private equity group Apax more than three decades ago. "It is my intention to continue on the board to help make a success of this."
Big Society Capital has an initial funding pot of £400m-£600m of assets that were unclaimed in dormant bank accounts and a further £200m from UK banks, which is meant to act as seed capital to drum up more funds.
- 1 Asteroid narrowly scrapes past Earth: how to watch the closest space rock for decades as it flies by
- 2 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 3 The enemy within: People who hear voices in their heads are being encouraged to talk back
- 4 British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
- 5 Watch Richard Dawkins read his own hatemail: 'I hope you do get sodomised by satanic monkeys in hell'
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
Greece elections: Syriza and EU on collision course after election win for left-wing party
British Muslim school children suffering a backlash of abuse following Paris attacks
Islamic history is full of free thinkers - but recent attempts to suppress critical thought are verging on the absurd
Leaked documents show Ukip leaders approve NHS privatisation once it becomes more 'acceptable to the electorate'
iJobs Money & Business
£30000 - £32000 per annum + benefits : Ashdown Group: A highly successful, int...
£18000 - £20000 per annum: Recruitment Genius: This rapidly expanding business...
£25 - 28k + Bonus: Guru Careers: An In-house / Internal Recruiter is needed to...
Negotiable: Recruitment Genius: A Tax Assistant is required to join a leading ...