Etherington and Hayday propose new future for Social Investment Business 3
Tags: Investment | Social investment
Malcolm Hayday
Malcolm Hayday has been chief executive of Charity Bank since 2002. In February 2012 he annoucned his intention to step down but will remain in post until a successor is found. In October it was announced that Partrick Crawford will take over from him in November.
Since 2004 he has also been a director of INAISE, a global network of social finance organisations based in Brussels.
Before joining Charity Bank he was director of community finance and the Charities Aid Foundation.
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News
The loan book of the Social Investment Business should be sold and the proceeds passed to the new Social Investment Wholesale Bank, according to NCVO chief executive Stuart Etherington.
The Charity Commission is considering a request by Charity Bank to change its governing documents to allow it to distribute profits to its charitable shareholders, a decision that could have wider implications for all charitable companies.
Civil society organisations are facing a worrying period of insecurity as a hung parliament appears nigh on certain, many sector commentators warned today.
Charity Bank and its largest shareholder Charities Aid Foundation say they have considered but ruled out merging the bank with CAF Bank.
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