Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Rowan Dartington incentivises staff with major equity stake

Rowan Dartington incentivises staff with major equity stake

Staff share ownership of Rowan Dartington has doubled to 30% after the management released equity to ensure employees remain incentivised.

The move was triggered by staff, who approached the board six months ago asking if they could personally invest in the business. After consultation, existing shareholders, including chief executive Graham Coxell, agreed to a reduction in their holdings to enable this.

Coxell told Wealth Manager the shares, which staff purchased at market value  were oversubscribed.  The shares were snapped up at a premium to Rowan Dartington's value at its acquisition last March.

Outlining its plan, Coxell (pictured) said the group is currently finalising arrangements for the transfer of equity, which will see its 100-strong team’s ownership of the firm, excluding Coxell, rise from 15% to 30%.

The employee ownership is spread across a wider catchment, with members of the compliance, operations and support staff given an interest in the future of the firm.   

Coxell said the vote of confidence in the business has made him proud.

‘This provides evidence that, despite the uncertain macro conditions, there is confidence in both our people and future, which is very humbling.’

Rowan Dartington has an ambitious growth strategy, which could see it make acquisitions as it looks to grow its regional presence, although Coxell said organic growth remains the key focus.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Brewin's Gutteridge & Foster talk property with Standard Life's Baggaley

Brewin's Gutteridge & Foster talk property with Standard Life's Baggaley

Gutteridge and Foster discuss UK commercial property with Jason Baggaley, manager of the Standard Life Property Income investment trust

Brewin's Gutteridge asks Odey's Tim Bond two tough questions

Brewin's Gutteridge asks Odey's Tim Bond two tough questions

Gutteridge puts the heat on Odey's asset allocation maestro with a couple of tough questions.

Brewin's Foster & Gutteridge: searching for the yield of dreams

Brewin's Foster & Gutteridge: searching for the yield of dreams

Guy Foster and Ben Gutteridge discuss the latest upbeat US payroll report and how it has increased the probability of a first hike in interest rates in June.

Your Business: Cover Star Club

Profile: Creechurch Capital’s CEO on going the extra mile in a crowded market

Profile: Creechurch Capital’s CEO on going the extra mile in a crowded market

Growing a business is the main aim of many company owners but managing that growth in a controlled way is just as important

Wealth Manager on Twitter