Davis Cameron’s name used to promote disgraced financier Lex Greensill’s company to the NHS just four months before its collapse
Davis Cameron’s name was being used to promote disgraced financier Lex Greensill’s company to the NHS just four months before its collapse, The Mail on Sunday can reveal.
Greensill Capital, which filed for insolvency in March, was touting Cameron as its senior adviser as recently as November, according to confidential documents.
The finance firm was offering NHS trusts its business app Earnd as a way for staff to receive their salaries before payday. But last month, Earnd fell into administration with £10.2million of debt, some of which is owed to NHS entities. Earnd was used by several NHS trusts with thousands of staff.
Food for thought: Greensill Capital was touting David Cameron as its senior adviser as recently as November, according to confidential documents
Cameron, who was Prime Minister until 2016, was appointed as a paid senior adviser to Greensill Capital in 2018. A spokesman for Cameron said he became aware that Greensill was on the brink of collapse in December – just a month after his name was used in the documents.
‘David Cameron was not on the Greensill Board, and was not on the credit or risk committees,’ the spokesman said. ‘He emphatically did not think or know that the company was in any danger of collapse until December 2020.’
The documents from November 2 state: ‘We would like to mention that the Earnd Advisory Board members would be happy to talk with you. Similarly, so would Lord Bernard Hogan-Howe who is an advisor to us, David Cameron is a senior adviser to our main Board, and we can provide references from various public sector leaders as to our bona fides.’
Lord Hogan-Howe was Commissioner of the Metropolitan police until 2017 and was appointed as a paid consultant to Earnd last May – the same month he entered the Cabinet Office as a non-executive director. He said he was unaware that Earnd was using his name in documents sent to NHS trusts.
Lord Hogan-Howe said: ‘I can confirm that I did not take part in the Health Service procurement process. I was unaware that Earnd were using my name in this way and I was not asked to give a reference.’
The Cabinet Office said: ‘Lord Hogan Howe transparently declared his interests, which were published online, and he had absolutely no role in any procurement or policy relating to these interests.’
Greensill’s advisory board for Earnd had included Lord Blunkett, the former Home Secretary, who stepped down from his paid position in February.
Reports had emerged by November that Greensill was facing financial troubles. Some of its borrowers had failed to repay loans, including collapsed healthcare group NMC Health and the lender Brighthouse.
Bridget Phillipson, Shadow Chief Secretary to the Treasury, said: ‘It’s staggering that the Government was still letting Greensill Capital hawk its wares around the NHS at a time when the warning lights were flashing red on its financial future.’
Greensill declined to comment.