ex-peregrine chief rides the consultation trail at hutchison
Spare a thought for Philip Tose. The former Peregrine executive was forced into semi-retirement after the investment bank went belly-up in 1998, according to lawyers fighting at the High Court to see the humbled high-flier face a directorship ban of no more than three years.
Both Mr Tose and former financial director Peter Wong had a 'self-imposed disqualification' on themselves since the collapse of the group, in effect for six years.
'Both of them have effectively retired from the business world in which they have been members,' the court heard yesterday.
Ostracised and left on the heap? Not quite. He may have thought twice about taking on a directorship in the past six years, but we note Mr Tose has managed to find himself a consultancy role - complete with office space and desk - in the offices of Li Ka-shing's Hutchison Whampoa.
A Hutchison spokeswoman confirmed that Mr Tose has been engaged as a consultant to Hutchison and his role is to advise on the expansion of its overseas businesses.