View the article online at http://citywire.co.uk/wealth-manager/article/a727024
Charles Stanley boosts London team with quadruple hire
by Danielle Levy on Jan 10, 2014 at 07:58
Gossage and Gifford join as investment managers, alongside David Orr from Brewin Dolphin and Tom Sanderson from UBS.
Gossage formerly spent 12 years at Adam & Company, having joined in 2001, while Gifford had joined Adam & Company in 2011 from Old Mutual Asset Managers as an investment director. The duo have been joined by Lois Gray, a qualified broker to support them, while ex-Brewin Dolphin investment manager Orr has also brought over former colleague Charles Orr as an administrator on his team.
David Orr has departed Brewin after a 12-year stint at the private client investment manager, while Sanderson spent the past three years at UBS. Prior to this, he worked at Canaccord Genuity Wealth, formerly known as Collins Stewart, and Smith & Williamson Investment Management.
Charles Stanley, led by Sir David Howard (pictured), has been particularly active on the hiring front in recent times, having engaged with a number of Barclays investment managers on the brink of departing following a strategic review of the bank’s wealth management division.
Charles Stanley also hired three in Birmingham last August and took on a team from Brewin Dolphin in Leicester last March.
The team initially comprised six people, but Charles Stanley later poached a further 12 members of staff from Brewin for the office.
Charles Stanley has also expanded its passive capability with the acquisition of Evercore Pan Asset, headed by John Redwood, in November.
At the same time, the firm said it had met the steep rise in regulatory costs with a 44% rise in pre-tax profit in the first half of the year to £4.9 million. It said this was thanks in part to a 17.2% increase in revenue to £70 million.
Total funds under management rose to £18.5 billion from £15.6 billion in September 2012.
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by Dylan Lobo on Mar 12, 2014 at 10:01