Home Money CITY WHISPERS: Jacob Rees-Mogg hits out at Davos man… including his pal Lord Dominic Johnson

CITY WHISPERS: Jacob Rees-Mogg hits out at Davos man… including his pal Lord Dominic Johnson

by Elijah
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Speaking: Jacob Rees-Mogg

Speaking: Jacob Rees-Mogg

On Tuesday we attended the launch of the ‘Popular Conservatives’ (or PopCons) group led by Liz Truss, whose aim is to ‘excite the public’ by offering an alternative to the perceived weakness of Rishi Sunak’s Government.

Among those in attendance was Somerset MP and former Brexit Chancellor Jacob Rees-Mogg, who proudly proclaimed in a speech that “the era of the Davos man is over”.

He was referring to the meeting of the financial and political elite at the World Economic Forum, held in the Swiss ski destination last month.

But the PopCon man might want to pass on his thoughts to Lord Dominic Johnson, the Investment Minister with whom he co-founded the hedge fund Somerset Capital in 2007.

His honor spent quite a bit of time at this year’s Davos meeting, going so far as to say that the event had provided “excellent opportunities” to tout the UK’s technology and investment credentials.

With friends like that…

The head of Vodafone meets with the German chancellor “on the slow lane”

Vodafone boss Margherita Della Valle was traveling the world last week, traveling to Germany for an “interesting and productive meeting” with Chancellor Olaf Scholz.

Germany is the telecommunications giant’s biggest market, but it is struggling to boost sales and its falling share price.

Scholz is likely to be sympathetic, given that Germany itself is stuck in the slow lane, becoming the world’s worst-performing large economy last year.

Nicht trip!

Gay Huey Evans seeks “interesting” new role

What’s next for Gay Huey Evans, who will leave Standard Chartered’s board this year after nine years?

The American director is looking for a new role, she tells Whispers, “but only if it’s interesting.”

Evans has not been far from controversy in recent times. Last year she resigned as chair of the London Metal Exchange in the fallout from the nickel market crisis, which saw billions of pounds worth of transactions canceled.

The LME, founded 146 years ago, was criticized by investors for its handling of the matter. Evans’ response? “It’s a physical market,” he explains. “It’s not as simple as government bonds and stocks.”

I’m not sure the LME’s red-suspenders brigade agree.

Good news (finally) for ‘Baroness Bra’

Good news (finally) for Michelle Mone, the embattled lingerie queen also known as ‘Baroness Bra’.

There were fears that a horse the pair gave to her husband Doug Barrowman as a wedding present would not be able to compete in the Grand National due to a £75million court order freezing its assets.

This is part of a criminal investigation into alleged PPE fraud in the pandemic, which they deny.

The full list of those frozen assets has already been made public and there is no mention of Monbeg Genius, the nuisance in question.

That means the 14-1 event can be played for free at Aintree and win the £500,000 first prize. Giddy Up!

Contributors: Patrick Tooher, Mark Shapland

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