Capita takes £17.9m hit over Arch cru

Capita, the authorised corporate director of the failed Arch cru funds, has revealed the settlement earlier this year cost it £17.9m.

In its results statement, the group revealed a £17.9m settlement for Arch cru, had impacted its operating cashflow, in what chief executive Paul Pindar called a challenging year. The revelation comes after the FSA announced a £54m compensation package for investors last year which was funded by Capita Financial Managers Limited, as well as the CF Arch cru funds' depositaries, BNY Mellon Trust & Depositary and HSBC. However, it was not known at the time how much each group had paid. The figure today means Capita has funded a third of the package, with the remainder split between BNY...