Charles Stanley  

Charles Stanley completes AM reshuffle with Barclays hire

Charles Stanley completes AM reshuffle with Barclays hire

Charles Stanley has completed the restructure of its asset management division with a hire from Barclays Wealth and a series of internal promotions.

The firm has hired Adam Carruthers, who served as a fund manager at Barclays Wealth for 10 years, as a collectives analyst.

Ben Johnson, an investment writer at Charles Stanley, has been promoted to the position of fund analyst, while Pierre Micallef, who has served as an asset allocation strategist at the firm, takes the role of multi-asset fund manager.

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This recruitment brings an end to an overhaul at the firm after it began assimilating its asset management businesses under one division last year - which also led to high profile departures.

Charles Stanley had previously promoted Ross Brookes to the position of head of collectives research after Stephen Peters left to join Barclays Wealth. Other exits included CPS investment manager Shauna Bevan.

The initial change included bringing together its four asset management businesses - Pan Asset, CPS, Matterley and an IHT team - and their respective research teams.

Christopher Aldous, head of asset management at the firm, said: "We can now focus on making the best use of the team’s talents and building out our product offering. We remain committed to becoming a leading UK wealth manager by 2020 and are on track to achieve this goal.”

In an update earlier this morning (November 24), the firm announced a shake-up of how investment managers are remunerated as it looks to align staff interests with those of shareholders.