Fink, who was elevated to the House of Lords last year, told the newspaper -- which is investigating peers' use of the Lords facilities for business events -- that he had learned the dinner might violate House rules. He said he has no financial interest in American Express and did not stand to gain anything from the dinner.
The dinner was part of a "Wimbledon Championships" package offered to holders of AmEx's Platinum and Centurion cards. For almost $10,000, participants get two days at Wimbledon, accommodations in London's swanky Dorchester Hotel and a reception with tennis great John McEnroe.
A dinner will still be included but it will be held at a different venue. Fink said he agreed to sponsor the event at the Lords because AmEx had offered a donation to a major London hospital. The company says it will still give the money.
Fink, sometimes called the "Godfather" of the British hedge fund industry, became Conservative treasurer after his predecessor, Peter Cruddas, was caught on tape offering potential donors dinner with Prime Minister David Cameron at 10 Downing Street.