Charles Stanley restructure to cost £10m

Annual results

Beth Brearley
clock • 2 min read

The major restructure announced by Charles Stanley earlier this month is expected to cost £9.5m, the firm said in its annual results.

The changes to its operating model and management structure are expected to take two to three years to complete and are aimed at supporting its goal of achieving a net margin of 15%. As part of the restructure, head of investment management Gary Teper is leaving the firm, it was previously announced. Chief executive officer Paul Abberley commented: "The transformation programme will give rise to exceptional costs over its two-to-three-year implementation period, estimated at £9.5m. "It is expected there will be a net charge to the group's profit for the financial year ending 31 March ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Future of Investment Festival: Our specialist sessions for advisers

Future of Investment Festival: Our specialist sessions for advisers

Future-proofing advice, building sustainable portfolios, all things SDR

Professional Adviser
clock 19 April 2024 • 2 min read
Why non-transparent managers are behind most failed acquisitions

Why non-transparent managers are behind most failed acquisitions

‘They don’t understand the importance of culture and cohesion’

Rami Cassis
clock 12 April 2024 • 3 min read
Partner Insight: Understanding the investment universe

Partner Insight: Understanding the investment universe

Invesco
clock 12 April 2024 • 6 min read