The relatively unknown investment fund where Theresa May’s husband Philip works as a senior executive is one of the world’s largest and most powerful financial institutions, controlling $1.4 trillion (£1.5 trillion) in assets.
Its portfolio also includes $20 billion of shares in Amazon and Starbucks, both of which were cited by the Prime Minister-designate in her pledge to crack down on tax avoidance yesterday.
Latest filings to US authorities show that Los Angeles based Capital Group owns huge stakes in a variety of companies, including investment bank JP Morgan Chase, defence giant Lockheed Martin, tobacco company Philip Morris International, the pharmaceutical sector’s Merck & Co, and also Ryanair.
The company, which has a low profile outside the financial sector, has confirmed that Mr May, a pension fund expert, works out of its Mayfair office in London, with a spokeswoman telling The Independent: “Philip is a client relationship manager who stays in contact with organisations and institutions in the UK to ensure they are happy with the service being delivered by Capital Group and that we understand their goals. Philip is not involved with our investment research or portfolio management activities.” Full story...
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Its portfolio also includes $20 billion of shares in Amazon and Starbucks, both of which were cited by the Prime Minister-designate in her pledge to crack down on tax avoidance yesterday.
Latest filings to US authorities show that Los Angeles based Capital Group owns huge stakes in a variety of companies, including investment bank JP Morgan Chase, defence giant Lockheed Martin, tobacco company Philip Morris International, the pharmaceutical sector’s Merck & Co, and also Ryanair.
The company, which has a low profile outside the financial sector, has confirmed that Mr May, a pension fund expert, works out of its Mayfair office in London, with a spokeswoman telling The Independent: “Philip is a client relationship manager who stays in contact with organisations and institutions in the UK to ensure they are happy with the service being delivered by Capital Group and that we understand their goals. Philip is not involved with our investment research or portfolio management activities.” Full story...
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- Google, Apple and Starbucks would face 'laughable' fines for tax dodging...
- Starbucks pays corporation tax of less than €4,200...
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