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Ex-Cazenove man on insider-trading trial
29 Jan 2009A former high-flyer at Cazenove, the Queen's bankers, was ordered to stand trial today on insider-trading charges.
Malcolm Calvert is said to have misused confidential information about a string of proposed management buyouts, takeovers and mergers to acquire a total of 425,500 shares.
The 64-year-old allegedly committed the offences between April 2003 and March 2005, well after his April 2000 departure as partner in the blue-blooded City investment bank.
Calvert, who was attending a 20-minute plea and case management hearing at Southwark crown court, spoke only to confirm his name and deny each of the 12 Criminal Justice Act charges he faces. He was bailed.
The companies involved, all Plcs, are HP Bulmer, Macdonald Hotels, Vernalis, Johnston Group, South Staffordshire and the RAC.
Judge Geoffrey Rivlin QC told Calvert, of Cobham, Surrey, his eight-day trial, the result of a prosecution by the Financial Services Authority, would begin on 9 September.
