Charles Stanley has appointed Mark Pittaccio as head of intermediary distribution.
In his role, Mr Pittaccio will be responsible for leading the firm’s distribution strategy to the intermediary market, including the development of a national sales team and assisting advisers in building their own client offering.
He joins from being the group investment director In Partnership, responsible for the creation and delivery of the network’s investment strategy, client proposition and business transition programme to more than 300 advisory businesses.
Charles Stanley said it selected Mr Pittaccio due to having particular experience in transitioning advisory businesses from a traditional transactional model to a service-based fee model.
Mr Pittaccio commented: “Through my own experience as an adviser and having worked with advisory businesses for the last 20 years I have gained a real understanding of the challenges that intermediaries face.”
Christopher Aldous, head of distribution at Charles Stanley, added: “Mark’s experience and advisory perspective therefore represents an extremely valuable addition to our offering and provides a more consultative approach to intermediaries which will bring real value to their business.”
In the spring, Charles Stanley’s new executive team revealed it was eyeing the sale of a number of its divisions in a bid to focus entirely on wealth management.
The plan was put forward after a major senior management overhaul, which saw Sir David Howard relinquish his position as chief executive in September last year and become non-executive chairman.
The company subsequently hired Paul Abberley as chief executive in December and Ben Money-Coutts as chief financial officer in January and the retirement of Michael Clark as an executive director in March 2015.
It has also hired a new head of marketing, chief operating officer, chief risk officer and group compliance officer.
peter.walker@ft.com
