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John Charcol closes Birmingham branch

John Charcol has confirmed it has closed its Birmingham branch as part of a restructuring of the firm.

This comes as technical manager Katie Tucker left the broker yesterday.

Money Marketing revealed yesterday that the broker was in negotiations with chief executive officer Ian Kennedy over his future role at the firm. A decision has not yet been made.

A John Charcol spokesman says it has not made a final decision on how many jobs will be cut as a result of the firm’s restructuring. The broker currently has between 260 to 270 staff across the UK.

He says: “In terms of our numbers we are set up for this time last year. Obviously the market is now a lot tougher and we have to make sure we are in the right position. We have to make some tough decisions.”

The spokesman says its Birmingham branch was closed last Friday and it is currently in negotiations with the three staff at that branch.

“The Birmingham branch was not performing well for us over the last few years. We’ve been looking at it for the last six months so it wasn’t just to do with market conditions.”


Universal appeal

In the wake of the publication of the RDR interim report, I headed to the US for a conference where all the attendees take zero commission and yet continue to prosper, possibly because they have a specification or protocol of the type of client that they can service in the most profitable and optimum fashion.


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