Banking Editor and
The move is being led by Sir Adrian Montague, head of insurer Aviva
The move is being led by Sir Adrian Montague, head of insurer Aviva Credit: Jason Alden/Bloomberg

三级成人视频The biggest names in the City are being urged to club together to help prop up the thousands of businesses hit by coronavirus after a task force was set up to save companies on the brink.

Sources told The Sunday Telegraph三级成人视频 that banks, law firms, asset managers and auditors had been asked to pitch in with ways to save British firms that are on the verge of collapse.

三级成人视频At least 10 City grandees will be chosen to lead the efforts on behalf of different sectors in the coming days.

The move is being spearheaded by Sir Adrian Montague, head of the FTSE 100 insurer Aviva, who is chairing a new so-called Recapitalisation Group out of industry body TheCityUK.

三级成人视频Omar Ali, EY’s financial services managing partner, who built the Big Four firm’s banking practice in the wake of the financial crisis, will lead the new group’s technical committee, the audit firm said.

三级成人视频To marshal the City’s efforts, a cohort of more than 40 grandees were on Thursday asked to help, pro bono, in assisting with the crisis – on everything from legal advice to asset management, sources said.

One observer said: “There’s a societal need to get this fixed. All of the City has been invited to take part. Everyone recognises that they have to get involved.”

City and industry figures are expected to prepare their pitches over the Easter weekend and will be chosen by the task force this week.

The Sunday Telegraph revealed last week that the Treasury had approached a city grandee to lead efforts三级成人视频 “to sit down and do deals” and was mulling plans, including taking stakes in struggling businesses or underwriting rights issues for companies in difficulty.

三级成人视频Sir Adrian is the former chairman of 3i, the publicly listed private equity firm that was originally set up after the Second World War to fund small businesses. Sky News first reported Sir Adrian’s involvement.   

Separately, the Chancellor's former Goldman Sachs boss, Richard Sharp, is to take on a key post at the Treasury to help  keep the economy going during the outbreak, Sky News first reported.