Charles Stanley has extended its reach into Scotland by launching an office in Glasgow.
Based at the newly refurbished 58 Waterloo Street, this is the wealth manager’s third office in the region, adding to its locations in Edinburgh and Aberdeen and bringing its total number of offices across the UK to 26.
The Glasgow office will be headed up by Kris Barclay (pictured centre). Barclay will transfer over from the firm’s Edinburgh office where he has spent nearly six years as an investment manager. Prior to that he spent 14 years at Brewin Dolphin.
Peter Kelk, managing director of investment management services at Charles Stanley, said launching an office in Glasgow “sends a strong signal about our commitment to Scotland” where the group sees significant opportunity.
The Glasgow team will target private clients, financial advisers and other professional intermediaries.
Charles Stanley ramps up recruitment
Kelk said the office has the capacity for a larger team and that Charles Stanley is currently recruiting additional investment managers and financial planners.
Initially Barclay is joined by investment manager Simon Lewis (pictured right) and trainee manager Hercules Michail (pictured left).
Lewis, who joined the business on 3 June, has worked as a manager for over a decade first at Speirs & Jeffrey and most recently at Barclays Wealth where he worked for nine years. Michail joined Charles Stanley’s Edinburgh team just over one year ago before moving to the Glasgow office.
“Kris, Simon and Hercules all have excellent track records and will ensure they continue our tradition of providing a high-quality service and developing close client and intermediary relationships,” said Kelk.
“We are dedicated to growing our presence in Scotland and look forward to building the team in Glasgow as part of our overall growth plans.”
Charles Stanley has been chopping and changing a number of its senior members in an effort to shore up cash for the business.
It axed its head of investment management Gary Teper last month and reports suggest platform managing director Magnus Wheatley and head of asset management Christopher Aldous have also been shown the door.
The announcement comes as rival wealth manager Tilney revealed it has hired Standard Life Aberdeen’s Ronnie Binnie as managing partner and moved to a new office in Edinburgh.
