Patrick Smith not involved in Swinton share drama, says internal memo
Covea, the French insurer and ultimate parent of Swinton Group, has moved to distance chairman Patrick Smith from any wrongdoing associated with the sacking of the Swinton board.
In a memo to heads of department, and seen by Insurance Age, new chief executive, Christophe Bardet, assured staff that Mr Smith was not involved and would receive no punishment.
The memo reads: “He is not implicated. As the chairman of Swinton Holdings Limited he had not been involved in the day to day running of Swinton Insurance.”
The communication to staff also strives to reassure employees that no jobs, outside of the executive board made up of Peter Halpin, Anthony Clare, Jackie Ordish
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