SFO's ex-chief Alderman criticised over £1m of payments

Laura Miller
clock

The former head of the Serious Fraud Office has been heavily criticised for allegedly sanctioning almost £1m of severance payments to three departing colleagues without getting the necessary approvals.

Richard Alderman is taken to task over the "irregular" payments in a report by Tim Hurdle, a senior civil servant at the Treasury Solicitor's Office, the Telegraph reports. The report was commissioned by Mr Alderman's successor, David Green, who wanted to know why the SFO's former chief executive Philippa Williamson left with a severance package of £464,905, while ex-chief capability officer Chris Bailes received £473,167 and ex-technology head Ian McCall got £49,885. The exit package for Ms Williamson, which the report notes amounted to "some three and a quarter times her salary", wa...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Wealth managers

St James's Place results lay bare cost and charging challenges against market tumult

St James's Place results lay bare cost and charging challenges against market tumult

'Structural opportunity' for advice industry

Hope Coumbe
clock 28 February 2024 • 3 min read
SJP CIO Onuekwusi: Retail investors lack appropriate structure to access private markets

SJP CIO Onuekwusi: Retail investors lack appropriate structure to access private markets

Open-ended structures 'have to work'

Valeria Martinez
clock 01 December 2023 • 2 min read
M&G launches full PruFund range on Wealth platform

M&G launches full PruFund range on Wealth platform

‘Greater flexibility and wider choice’

Valeria Martinez
clock 22 May 2023 • 1 min read
Trustpilot