Wednesday, 11 July 2007

TUC & PE

The union campaign around private equity continues. The TUC has held a meeting with some of the key buyout firms, and a productive one by the sounds of it. Here’s the blurb!

At the invitation of TUC General Secretary Brendan Barber, this morning representatives from trade unions and the BVCA met for a roundtable discussion at Congress House. At the invitation of the BVCA, another meeting is planned for the autumn.

The tone of the meeting was positive and while there is much ground still to be covered, both parties believe a good start has been made.

TUC General Secretary Brendan Barber said: "I welcome the opportunity for dialogue between unions and private equity. Our concerns about the growth of private equity are well known, but with private equity now employing one in twelve of the private sector workforce it makes sense for trade unions to engage with an increasingly important group of employers."

BVCA Chairman Wol Kolade said: "Today's meeting is the first of two planned roundtables. We look forward to these meetings and to an open exchange of views. We hope they set a pattern of regular dialogue between the BVCA and the TUC."

The meeting involved representatives from 3i, Apax Partners, Bridgepoint, BVCA, CBI, CVC, Hermes Private Equity, ISIS Equity Partners, KKR, Lyceum Capital, Permira, ETUC, GMB, TUAC, UNI, Unite - Amicus, Unite - T&G and the Party of European Socialists.

1 comment:

ilanit said...

A broker in commodity based derivatives working mainly with financial counterparty will have less issues implementing the directive. Their business is basically a Los Angeles business investment business and some of the principles behind the details of MiFID and CRD clearly apply to them.