Brooks Macdonald staff cull ‘no surprise’
Asset manager cuts 50 staff as part of ‘streamlining plan’
Asset manager cuts 50 staff as part of ‘streamlining plan’
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Brooks Macdonald co-founder says Gam ARBF’s ‘dodgy’ investment has caused problems for the sector
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Nick Holmes leaves the firm after more than two decades
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Almost half of shareholders reject changes over dilution fears
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Platform’s net inflows drop 10% quarter on quarter, while DFM’s UK growth halves
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FCA and PRA tackle green finance in consultation on climate change
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CEO Caroline Connellan acknowledges headwinds ahead
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Brooks Macdonald managed to grow assets in the past quarter, recovering from a sizeable hit to performance at the start of the year.
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Brooks Macdonald has joined the growing rank of asset managers that have seen total assets contract for the first three months of 2018, but Amundi has just managed to buck the trend, posting assets under management (AUM) growth in Q1.
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Brooks Macdonald saw its profits all but wiped out after setting aside more cash to cover legacy issues related to its acquisition of Spearpoint Capital.
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Brewin Dolphin’s head of finance Ben Thorpe has moved over to Brooks Macdonald as group finance director.
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Brooks Macdonald’s total funds under management neared a record £12bn off the back of “good portfolio performance” and a pickup in new business.
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