Cameron asked Lloyds to reverse the bank’s decision to withdraw support from Greensill Capital. In January 2021, he appealed to James Lupton, independent director and chair of Lloyds Bank Corporate Markets plc, to keep funding Greensill’s supply chain financing of NHS pharmacies.
Lord Lupton served as Conservative treasurer from 2013 to 2016 and donated more than £3 million to the Tories.
Following Cameron’s appeal, Lloyd Banking Group reversed its decision to withdraw support from Greensill Capital.
“The decision to continue this facility in January 2021 was made on the usual commercial basis and in recognition of the importance of maintaining this facility for the NHS during the height of the pandemic. This programme ended following the administration of Greensill, with the bank repaid in full. There were no losses to the NHS, the pharmacies supplying them or Lloyds Banking Group,” a spokesperson for Lloyds said.
Greensill, which paid the former UK PM millions of pounds as an adviser, filed for insolvency protection on 8 March 2021.
Cameron’s actions landed him in trouble for lobbying government officials, including Chancellor Rishi Sunak, on behalf of Greensill.
In April, UK Prime Minister Boris Johnson ordered an inquiry into the collapse of Greensill and Cameron’s lobbying efforts.