Charles Stanley, one of the UK’s largest independent stockbrokers, is opening a private client office in Birmingham and has hired six indivi...

Charles Stanley, one of the UK’s largest independent stockbrokers, is opening a private client office in Birmingham and has hired six individuals from rival private client stockbroker, Gerrard. The new team — which included the initial arrival of David Inions and Marcia McKenzie — will handle private client portfolios on a discretionary and advisory basis and will also undertake execution-only business on behalf of clients. “The strategy of Charles Stanley has always taken advantage of good opportunities to grow the business and the branch network is an important part of that,” a spokeswoman for Charles Stanley, told WealthBriefing. She added: “It just so happened that we didn't have a private client branch in this area and the opportunity was there. We're very much looking forward to developing a good business in Birmingham.” In addition to David Inions and Marcia McKenzie, who have already joined, the new team will comprise Paul Smith, who is joining on 30 August, and Martin Tatlow, Simon Sharp and Lawrence Fagg who are all joining on 28 November. On joining, Lawrence Fagg will take on the responsibilities of Birmingham branch manager. Charles Stanley has been actively building up a regional presence in the UK. In February, the firm bought the UK regional stockbroker Rowan Dartington, a prominent West Country stockbroker with offices in a number of major regional centres, including Bath, Chichester and Hereford. The London-based stockbroker has also recently opened an office in Glasgow and recruited a team of brokers from Aitken Campbell, which only yesterday announced its closure, after years of underperformance.