Tuesday, 7 July 2015

Neath Port Talbot treasury advisors named in Channel 4 exposé

In "How Councils Blow your Millions" on Channel 4, Sector Treasury Services was named as a company some of whose advisors took commission from brokers. Sector's rebuttal is carefully worded and does not rule out the precise accusation made in the programme.

Sector were (and presumably still are) retained by Neath Port Talbot CBC (NPT). As far as I know, NPT has not been pushed into the bank-friendly loans exposed by Channel 4 Dispatches, and the decision to plunge millions of our money into Icelandic banks was the council's alone. However, Sector revised the quality of their advice in the light of the bank crash as they were at pains to point out to councillors in an exhaustive presentation shortly thereafter.

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