Tavistock executives slash pay amid coronavirus pandemic

Firm to undertake cost-cutting measures

Hannah Godfrey
clock • 1 min read

Bosses at Tavistock Investments have volunteered to waive a “significant proportion” of their income during the Covid-19 pandemic, a market update revealed this morning.

The move, which took effect immediately (8 April), sat alongside a range of other measures the business had put in place to keep the it in "the best working order" during the crisis. The firm said no dividend would be paid to its shareholders at the present time, and a comprehensive strategic review was underway with a view to cut costs from the business. Tavistock Investments chief executive Brian Raven said: "The key measure of leadership is how well it performs under difficult circumstances. Tavistock is led by a strong, experienced and unified team who have clearly demonstrated th...

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 Your profession

PA Asks: Is plugging the retirement support gap a job for the FCA?

PA Asks: Is plugging the retirement support gap a job for the FCA?

This week’s poll also looks at auto-enrolment and client interest in ESG

Professional Adviser
clock 23 April 2024 • 1 min read
Advice stalwart on why consolidation is a 'flawed business model'

Advice stalwart on why consolidation is a 'flawed business model'

‘We are in a period of deconsolidation and it will all unwind’

Isabel Baxter
clock 22 April 2024 • 5 min read
Adviser numbers rise for Continuum as it expects further growth this year

Adviser numbers rise for Continuum as it expects further growth this year

Assets under influence grew 20% year-on-year to £2.07bn

Sahar Nazir
clock 22 April 2024 • 1 min read