Steward's enquiry

David Pitt-Watson is chairman of UK fund manager Hermes' Equity Ownership Service, a division set up three years ago to steward the equity investments of clients. The involvement of Hermes in negotiations over Northern Rock has given him an inside view of the credit crunch. Here, he talks to Mortgage Risk about the conflicts of interest at the heart of the crisis and gives an owner's perspective on what must change to avoid a repeat of recent events in future.

How did you come to set up Hermes

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