Charles Stanley Direct has shaken-up its management team, appointing Magnus Wheatley as managing director of the business.
Mike Lilwall will stay as head of proposition for the Charles Stanley Direct business, as well as director of Charles Stanley Group.
Wheatley was previously head of digital marketing and communications at Charles Stanley Group, and Joanne Vowles will take over some of those responsibilities.
In the reshuffle, Marcus Tree has been appointed head of digital operations for the Charles Stanley Direct business, taking control of the dedicated client helpdesk and administration hub in Edinburgh.
The investment desk decisions will be taken more centrally within Charles Stanley Group, with the Foundation Portfolios and Foundation Fundlists managed by Charles Stanley’s collectives research team, headed by Stephen Peter.
The news follows departures from the business in recent days, with head of investment research Ben Yearsley leaving to “pursue other opportunities” while Charles Stanley Direct investment director Douglas McNeill left to join Macquarie Capital.
The new structure of the fund research team will take on Yearsley’s responsibilities, with no plans to replace him.
Charles Stanley says the moves will “strengthen the business for future challenges”.
Charles Stanley chief executive Paul Abberley says: “Integrating the structure and personnel of Charles Stanley Direct and the group is a logical step to creating a more efficient business that meets clients’ needs. These changes will help ensure that Charles Stanley Direct has the resource and investment to achieve its potential.”