Brian Tora is to take charge of Gerrard's intermediary division to drive sales of the group's privat...
Brian Tora is to take charge of Gerrard's intermediary division to drive sales of the group's private client portfolio services to advisers.
The move is part of the over-haul of Gerrard undertaken since the appointment last year of Ed Warner, previously chief executive of Old Mutual Securities, as chief executive of Old Mutual's UK businesses.
Tora will be charged with increasing intermediary business for the Old Mutual-owned Gerrard, a task that includes building out the current sales force. After two years of poor performance and slumps in markets, the sales force has fallen from 15 to just eight, Tora said.
Gerrard, which had £16.9bn under management at the end of January, offers a range of portfolio services to clients including the Managed Portfolio Service, investing in equities, fixed interest and collective investment schemes, designed for investors with £100,000 or more to invest.
For those with £30,000 or more to invest, Gerrard has the Millennium Global Portfolio Service, investing in a portfolio of collective investment schemes.
Initial commission of up to 3%, with 0.5% trail, is available on 1% annual management charges.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till