View more on these topics

Sir David Howard to retire from Charles Stanley management

Long-serving Charles Stanley Group chief executive Sir David Howard is stepping back from day-to-day management owing to regulatory changes.

Sir David will stay on as non-executive chairman, however he decided to resign from the top management role because of the newly minted CRD IV directorship rules.

A successor is yet to be named, however Sir David will remain in charge until a handover can occur. Two of the board’s non-executive directors have started the hunt for a new chief executive alongside consultants.

Sir David was managing partner of the listed company’s predecessor, Charles Stanley & Co, from 1972 and has been chief executive of the incorporated firm since 1988. Since 1999 he has been chairman as well.

Charles Stanley issued a profit warning earlier this month owing to lower than expected commission payments.

Recommended

Aberdeen Gilbert Martin Gilbert 700x450

Aberdeen sees £8.8bn outflows

Aberdeen Asset Management saw net outflows of £8.8bn in the six months to 31 March while it completed the deal to buy Scottish Widows Investment Partnership. Aberdeen’s half-yearly results, published this week, show buying Swip brought £134.1bn to the group’s assets under management, but in the run-up to the deal Aberdeen’s underlying managed assets fell […]

Credit-Suisse-700x450.jpg

Credit Suisse investigates traders over misconduct

Credit Suisse is investigating two of its traders in London over allegations of misconduct. The Wall Street Journal reports that one trader on the European equities sales desk has been suspended since February, while her boss who runs the London desk went on leave in the summer in connection with the probe. It is alleged […]

6

Think-tank mocks FCA for trying to create ‘perfect’ market

The Institute for Economic Affairs has mocked the way the FCA designs policy, accusing it of using an “A-Level economics textbook” in an effort to create a “perfect market”. Giving evidence to the Treasury select committee yesterday, IEA editorial and programme director Philip Booth said the regulator has bombarded the market with information which has […]

Job-Interview-Business-Finance-Meeting-700.jpg
1

Ian McKenna: Would guidance be better as a short-term fix?

The adviser market is understandably unhappy about having to make a large contribution to funding for the guidance guarantee process, which they consider will bring little benefit to their firms.  Such concerns are exacerbated by the suggestion the Money Advice Service may be one of the delivery partners, given its consistently profligate spending record. I agree […]

What can drive the India story forward?

By Kunal Desai, head of Indian equities, Neptune Since the election of Narendra Modi as prime minister in May 2014, Indian equities have gone on to outperform both developed and emerging markets. A busy period of governmental and economic reforms, a lower oil price and falling political risk have been the primary drivers over this […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment