Helena Morrissey thinks Neil Woodford should not return to fund managing after the damage he caused.
The 54-year-old ‘City superwoman’ declared: ‘I just cannot understand or contemplate him coming back.’
Woodford left savers nursing big losses when his empire collapsed in 2019. He sparked fury ten days ago when he announced a return with a new fund, WCM Partners.
‘City superwoman’ Helena Morrissey thinks Neil Woodford should not return to fund managing
Morrissey was chief executive at Newton Investment Management for 15 years. She said: ‘I find the whole thing extraordinary.
‘I am religious and I believe in redemption but he should not be returning to the same thing he just did.’
Morrissey, a mother of nine who sits in the House of Lords added: ‘Hundreds of thousands of investors lost billions.
‘It’s soul-destroying. It gives the industry a bad image. People don’t trust financial advisers, and confidence evaporated overnight.’
She said there was a dangerous star management complex. ‘He took credit for everything,’ she said.
‘He believed his own propaganda. There has been a huge lesson learnt.’
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