By staff writers 13 Nov 2009
The Commissioners of the Church of England, responsible for managing the Church’s £5 billion investments, are to fund a new ‘chaplain to the banks’. The new minister for mammon, whose licensing will be held in a bank next week, is a full-time post funded by a three year grant.
"While so much of the church is denouncing the banking community, it is an important time to come and be the new Chaplain to the second largest financial district outside of London and to become part of a Diocese that is wanting to love those who are both taking the flack and at the same time trying to put things right for the industry and the rest of us" he said.
"This is a ministry not just to the financial sector but all areas of the city’s business world." According to their last annual report, the Church Commissioners have £75 million invested in HSBC, £11.8 million in Barclays, £8.4 million in Royal Bank of Scotland, £6.4 million in Lloyds TSB.
The Church also invests in the largest listed hedge fund Man Group.
Church should invest in alternative economics article link
commentary by Simon Barrow, co-director of the religion and society think-tank Ekklesia 17 Sep 2009
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