Paul Myners, who served as financial services minister in the UK's last Labour government, has joined Cevian Capital, Europe's largest active ownership fund manager, as chairman of its UK operations and a partner.

Lord Myners, who has championed shareholder activism and good corporate governance in the past, both as a minister and as a government adviser, said: “I have held Cevian in high regard for some time, after coming to know them from governance circles. Over the last months I have had an opportunity to get to know the firm and its professionals from the inside.  Its investment strategy entails a long-term horizon, a concentrated portfolio, a plan to add value to each of its companies through constructive involvement, and collaborative efforts with and on behalf of other major shareholders.”

Cevian Capital manages around €3.5bn dedicated to active ownership investing in European listed companies. It focuses on companies in the Nordics, German-speaking Europe, and the UK.

©2011 funds europe