SIPP  

Curtis Banks to cut jobs due to office closing

Curtis Banks to cut jobs due to office closing

Curtis Banks will cut an undetermined number of jobs due to closing its Market Harborough office, in Leicestershire.

The self-invested personal pensions (Sipp) provider made this decision as part of its location strategy, to ensure that it remains competitive and can manage its risks effectively, a spokesperson said.

“Curtis Banks strives to continually improve our service and meet the changing needs of our customers,” the spokesperson added.

Curtis Banks took over the Market Harborough office after acquiring Pointon York’s entire Sipp business in 2014.

This decision is putting “a number of roles are at risk,” the spokesperson said.

“Should the proposal outcome be that the Market Harborough office closes, then affected staff will be given priority for redeployment across other group locations as well as outplacement support,” she added.

Curtis Banks profits rose to £7.1m last year, up from £4m in 2015, while assets under management reached £18.8bn.

The number of administered Sipps more than doubled last year, reaching 72,000, after the acquisition of Suffolk Life and European Pensions Management Limited (EPML), which were completed in 2016.

maria.espadinha@ft.com