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Charles Stanley head of investment management exits

Charles Stanley has confirmed Gary Teper's departure as the firm's three-year plan to secure 15% profit margin by 2022 begins to bite.

Charles Stanley head of investment management exits

Charles Stanley has parted ways with head of investment management and group board director Gary Teper.

Teper (pictured) will leave the group at the end of the month after resigning as an investment director on 21 May.

Teper's exit follows the 9 May announcement that three senior Charles Stanley roles were going to be assessed as part of a restructuring plan to achieve a 15% profit margin by 2022.

It is hoped the transformation project will standardise processes and create a simplified organisational structure.

The other two positions at risk are head of asset management, held by Chris Aldous, and managing director for Charles Stanley Direct, Magnus Wheatley.

Paul Abberley, CEO of Charles Stanley, thanked Teper for his service. 

'The private client investment management division has been restructured under his leadership and is now well placed for further growth and success,' he said.

The team was restructured in late 2016, with Johnny Arthur, Juliet Wedderburn, Rupert Boyle and Chris Harris-Deans joining to support Teper.

Sir David Howard, group chairman of Charles Stanley, highlighted the role Teper had played in the reshaping of the private client investment management team.

He said: 'Since joining as legal counsel, he [Teper] has undertaken a number of different roles within the group diligently and extremely effectively.

'More recently he has resolutely overseen the reconstruction of our private client investment management, which will provide a solid foundation for the future development of that division.'

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