Slater Walker

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Slater Walker was a British bank that was in financial difficulties in the 1970s and shook the British banking system at the time.

History[edit]

The Company was founded by Jim Slater and Peter Walker, a Tory MP, in 1964 as an authorized bank. It went on to perform what became known as corporate raids on public companies.

At its peak the Company held deposits totalling £95m, managed £250m of funds and looked after 29,000 pensions.[1]

Demise of the business[edit]

In 1975 the Company got into financial difficulties. The problems with Slater Walker led to support by the Bank of England.[2] Following the takeover of the Company by the Bank of England 15 charges were brought against Slater for offences against the Companies Act by the Department of Trade — the misuse of more than £4,000,000 of company funds in share deals. The case was thrown out in 1977.

References[edit]