The announcement comes less than a week after it outlined some of the details of the results of the strategic review undertaken by new CEO Paul Abberley.
One of the outcomes was a decision to focus solely on wealth management and, as a result to sell off its Financial Services division as well as the principal elements of Charles Stanley securities business.
According to Monday’s announcement to the stock exchange news service, the firm said it has: “entered into an exclusive Heads of Terms agreement in respect of the disposal of CSFS to its management team.”
But, it added, at this stage no guarantees can be made that the disposal will proceed, it said
Share in the wealth manager were trading at £3.91 as at 17h00, 3.7% higher than the previous day.
