Wealth Manager - the site for professional investment managers

Register for full access to Citywire’s Fund Manager database, news and analysis. Registration is free and only takes a minute.

Charles Stanley closes Liverpool office

1 comment
Charles Stanley closes Liverpool office

Charles Stanley is shutting its Liverpool office after the firm admitted it was forced to 'make tough decisions on the future of the branch'.

The office was opened in 2010 and from the site on Chapel Street, Charles Stanley offered investment management and employee benefits. The investment management unit will be shut down in the city, while the employee benefits business will continue to operate.

The firm said redundancies could be on the cards as roles in the office are 'under consultation'. The team includes three investment managers and it is understood that some could be offered roles in Charles Stanley's Manchester office.

Charles Stanley said it was considering all options, including consolidation of some of the investment management team, into other regional locations.

Commenting on the office closure, director Gary Teper (pictured) said: 'After a year in which we have seen two major offices open in Leicester and Cardiff, along with a very significant number of new investment management professionals join Charles Stanley across the country, we feel it is also right to look at the commercial viability of offices across our regional network.

'While the team in Liverpool have worked hard and have had some successes considering they were starting a completely new office without any pre-existing business, the business has not reached the levels we had hoped for and we have therefore had to make tough decisions on the future of the branch.'

Charles Stanley has 31 offices across its regional network.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Investment Pulse: the highs and lows of 2014

Investment Pulse: the highs and lows of 2014

This week's Investment Pulse looks back at some of the biggest stories of the year as well as looking forward to 2015.

Play Inside ETFs: Why the US bull-run still has legs

Inside ETFs: Why the US bull-run still has legs

Global equities suffered a sharp sell-off in the third quarter but exchange traded fund investors are continuing to back the US to outperform in 2015

Play Paul Niven: I won't rip up the Foreign & Colonial Trust history book

Paul Niven: I won't rip up the Foreign & Colonial Trust history book

The newly appointed manager of the Foreign & Colonial trust talks about his plans for UK's oldest investment company.

Your Business: Cover Star Club

Manchester wealth firm hires Coutts director for London launch

Manchester wealth firm hires Coutts director for London launch

Former Coutts director Tony Robinson has joined Chartered Wealth Management to head the company’s newly opened London office.

Wealth Manager on Twitter