U.K. wealth manager Charles Stanley Group PLC plans to restructure its management to reduce costs and simplify its organizational structure.
The company said May 9 that three senior roles are at risk — head of investment management, managing director of Charles Stanley Direct and head of asset management. Gary Teper is currently the group's head of investment management services, while Christopher Aldous is head of asset management and distribution. Magnus Wheatley is the managing director of Charles Stanley Direct.
Those whose roles will be affected were already informed about the plan and are in a formal consultation process that is expected to conclude by May 22. The company said it will look to redeploy them to other roles where possible.