The trouble is that Mr Blackburn, who is a professor of sociology at the University of Essex and the New School University in New York, and for many years edited the New Left Review, is not very keen on capitalism.

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The Bank of New York Mellon ( BK) was inadvertently left off the last portfolio review.

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"We have a lot of work to do in the high-performance area and I won't pre-empt the review, " said the former Wales fitness coach, who left an elite performance role with the New Zealand Rugby Union to join the Ospreys.

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