22 May 2019 12:39
Charles Stanley Group PLC
Directorate Change
Charles Stanley Group PLC ("Charles Stanley" or "Group") today announces that the Head of Investment Management and Group Board Director, Gary Teper, will be leaving the Group and its subsidiaries by mutual agreement as at the 31st May 2019 and has resigned as a director of the Company with effect from 21st May 2019.
This announcement follows the update on 9th May 2019 in which the Group highlighted its intention to restructure its operating model through a major transformation project, including plans to standardise processes and introduce a new, simplified organisational structure to support Charles Stanley's goal of achieving a 15% net margin.
Commenting on the departure, CEO Paul Abberley stated, "I would like to thank Gary for the support he has given me since my appointment and the contribution he made at Board and ExCo level over that period. The Private Client Investment Management Division has been restructured under his leadership and is now well placed for further growth and success."
Group Chairman, Sir David Howard, commented, "I would like to express my thanks to Gary for all he has done for Charles Stanley over many years. Since joining as Legal Counsel he has undertaken a number of different roles within the Group diligently and extremely effectively. More recently he has resolutely overseen the reconstruction of our Private Client Investment Management, which will provide a solid foundation for the future development of that division."
As required by section 430(2B) of the Companies Act 2006, details of the remuneration payments to be made to Gary Teper will be published on the Investor Relations section of the Company's website from 31st May 2019.
Charles Stanley Group PLC LEI: 213800LBSEGKE5MCYC90
For further information, please contact:
Charles Stanley Siobhan Griffiths Head of Communications via Newgate | Canaccord Genuity David Tyrrell 020 7523 4677 | Peel Hunt Guy Wiehahn 020 7418 8893 | Newgate Communications Adam Lloyd 020 3757 6884 charlesstanley@newgatecomms.com |
Notes to editors:
Charles Stanley traces its origins back directly to 1792 and is one of the oldest firms on the London Stock Exchange. Charles Stanley today provides holistic wealth management services to private clients, charities and smaller institutions. These are delivered by over 350 professionals located in 25 offices throughout the UK, both direct to clients and to intermediaries. Our services include investment portfolio management and financial planning, supported by in-house administration to enhance the quality of service provided. In addition, Charles Stanley Direct provides an award winning direct to customer execution-only dealing platform for equities and funds.