Charles Stanley  

Charles Stanley jobs at risk amid reshuffle

Charles Stanley jobs at risk amid reshuffle

Charles Stanley has confirmed three senior positions are at risk as the company prepares to reshuffle its management in a major restructuring project.

In a statement published today (May 9) the wealth management company announced the roles of head of investment management, managing director of Charles Stanley Direct and head of asset management face redundancy. 

The changes are part of a restructure across the company, which seeks to achieve an increase of net margin to 15 per cent. 

Charles Stanley confirmed it was now consulting with those affected, with the process expected to conclude by May 22, 2019, and stated it would look to redeploy the individuals to other roles "where possible". 

In April the wealth manager reported its funds under management and administration rose 5.7 per cent over the first three months of 2019, driven by investment performance. 

The company's assets under management reached £24.1bn, a 1.3 per cent increase over the year, with inflows from new clients adding £300m in the quarter and outflows from existing clients or lost clients standing at £600m.

The company is expected to publish its annual financial results on May 31. 

As part of the restructure Charles Stanley is also looking to standardise its processes across a single back and middle office in the hope this will create an improved system for its 400 investment professionals. 

The company said the restructure "accelerated" its existing projects aimed at improving IT, customer service and back and middle office performance.