Gilliat confirms that following “substantial intervention” in the structured product arena, it has held a strategic review and is undertaking some restructuring to reflect those changes.
Arbuthnot Banking Group says it remains “fully committed” to Gilliat and the opportunity for an independent provider of structured products distributing through IFAs. Gilliat, which is run by ex-Keydata consultant Adrian Neave, launched its first structured product last September.
Managing director Adrian Neave says: “We are confident about the market for structured products in 2010 despite the difficulties faced by the structured products industry as a whole over the last six months. Interest from IFAs and investors has increased markedly and we feel there are enormous opportunities for us.”
Baronworth Investments director Colin Jackson says: “They could not have come into the market at a worse time. People joined Gilliat following the Keydata disaster and there was a lot of resis- tance to structured products.”