Funding agency confirms CEO is ‘working away from the business’

Mystery surrounds the role of Liverpool-based venture capital firm MSIF’s chief executive.

The company has confirmed that Lisa Greenhalgh is no longer working from the firm’s city centre offices.

However, the organisation denied she has been suspended or is the subject of any ongoing investigation.

TheBusinessDesk.com understands that MSIF staff have been told not to discuss Ms Greenhalgh’s situation.

A spokeswoman for the organisation denied Ms Greenhalgh is currently suspended, saying: “She is away from the business and working with the board.”

She added: “We don’t know how long she will be away from the business from this moment in time.”

And she denied there was an investigation under way regarding Ms Greenhalgh’s absence: “There is nothing official or any investigation to be confirmed,” she said.

Ms Greenhalgh joined MSIF in 2003 following 11 years with computer specialist Fujitsu, where she headed up the finance function of a subsidiary – Multivendor Computing Division-Nordic – a supplier of IT hardware and services, which had a turnover of £180m.

She is a Fellow of the Chartered Institute of Management Accountants and is also chair of the audit and remunerations committees of Edge Hill University. She was appointed deputy chair of the university board in January 2017.

Ms Greenhalgh was on the board of Professional Liverpool until November 2018.

Within MSIF she oversees the running of its entire operation, including its investment strategy and ongoing business strategy including raising new funds.

MSIF provides funding for small- and medium-sized businesses, typically those who cannot obtain investment from mainstream sources, such as the high street banks.

The fund has been investing in Merseyside since 1994, when it was established to provide support to local businesses.