Tees team move out
A TEESSIDE stockbroking operation has closed its doors for the last time.
The 200-year-old Gerrard Investment Management Limited, which became part of Barclay’s wealth management division in 2003, has shut its office at Teesdale following a review of the business.
Some of the seven Teesside-based staff have been redeployed to Newcastle.
In a statement, Barclays said: “We can confirm that all clients in the North-east region will continue to receive quality private banking and investment management services via the Newcastle office.”
Gerrard’s Teesside team moved from Marton Road, Middlesbrough, to Teesdale in 1998.
In 2002, following a disastrous downturn in trading volumes, Gerrard merged its teams from Teesside, York and Huddersfield into one regional centre in York before Barclay’s reopened the Teesdale base in October 2003.
Share
