Charles Stanley restructure to cost £10m

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 ...