Charles Stanley Direct has carried out an overhaul of its management team following the departure of three senior executives since December 2014.
The firm has also appointed Magnus Wheatley as its new managing director, who earlier served as head of digital marketing and communications for the group.
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Marcus Tree has been appointed as the new head of digital operations.
Mike Lilwall, the director of Charles Stanley Group, will remain in his position as the head of proposition at Charles Stanley Direct, apart from his capacity of director at Charles Stanley Group.
Also, Charles Stanley Direct platform’s style and research output will now be closely linked to that of Charles Stanley Group Research functions.
Its Foundation portfolios and the Foundation Fundlists will be managed by the collectives research team, which will be led by Stephen Peters in London.
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By GlobalDataAt the same time, Charles Stanley Direct also announced the departure of its head of investment research Ben Yearsley, who joined the group in October 2012 from rival Hargreaves Lansdown.
Yearsley’s departure follows the depature of investment director Douglas McNeill, who quit the firm to join Macquarie Capital, and the platform’s architect Rob Hudson who departed the firm at the end of last year to join Aberdeen Asset Management.
Charles Stanley CEO Paul Abberley said: "The board sees Charles Stanley Direct as a strong component of the group’s overall strategy and is committed to its long-term success. The business has performed strongly in recent months and is moving towards profitability at an encouraging pace.
"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."
