Sir Ronald Cohen stepping down as head of Big Society Capital

James Ashton
Friday 22 March 2013 00:03
Comments

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.

Register for free to continue reading

Registration is a free and easy way to support our truly independent journalism

By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists

Please enter a valid email
Please enter a valid email
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Please enter your first name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
Please enter your last name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
You must be over 18 years old to register
You must be over 18 years old to register
Opt-out-policy
You can opt-out at any time by signing in to your account to manage your preferences. Each email has a link to unsubscribe.

By clicking ‘Create my account’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Already have an account? sign in

By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Register for free to continue reading

Registration is a free and easy way to support our truly independent journalism

By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists

Already have an account? sign in

By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Join our new commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in