Charles Stanley shares have climbed 3% in afternoon trading after the wealth manager announced a plan to sell Charles Stanley Financial Solutions to its management team.
Five days after announcing the initial outcome of a strategic review conducted by CEO Paul Abberley (pictured), the company has made further progress on its attempts to focus "wholly on wealth management". The wealth manager has entered into an exclusive "heads of terms" agreement to dispose of the employee benefits arm to the management of that business. "At this stage no assurance can be given that a disposal will proceed," Charles Stanley added. The company's shares closed 3.7% higher at 391.5p following the announcement. Charles Stanley reported revenue of £1.6m for the Fina...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
