Financial Results

Revenues Increase At UK's Charles Stanley Group

Tom Burroughes Group Editor London 29 July 2010

Revenues Increase At UK's Charles Stanley Group

Revenues at Charles Stanley Group, the UK-listed firm providing services including wealth management, rose by 11.2 per cent year-on-year to £28.9 million (around $45.2 million) in the three months ending on 30 June.

“Since 31 March 2010 the business has performed solidly against a background of continued market uncertainty,” Charles Stanley said today in a statement.

Total client funds under management and administration, however, dropped by 4.7 per cent during the three months to £12.2 billion, but this decline was far less severe than the 13.4 per cent drop in the FTSE 100 index of blue-chip equities or the 7.9 per cent drop in the APCIMS Balanced Portfolio Index.

The firm said that Peter Hurst has announced he wishes to retire in 12 months’ time, in mid-2011, when he will have completed 24 years as finance director. Steps are under way to appoint a successor, Charles Stanley said.

Register for WealthBriefing today

Gain access to regular and exclusive research on the global wealth management sector along with the opportunity to attend industry events such as exclusive invites to Breakfast Briefings and Summits in the major wealth management centres and industry leading awards programmes