Rathbones expands despite the gloom

Jul 25 2008 by Alex Turner, Liverpool Daily Post

THE credit crunch is having little effect on fund managers Rathbone Brothers, which continues to grow its Liverpool-based operation, despite gloomy economic conditions.

The firm has increased staffing at its Port of Liverpool office by 20, to more than 300, as it provides support for the expanding business.

Rathbones has opened two new offices, in Birmingham and Exeter, with an Aberdeen office due to open later this year.

Andrew Morris, the director responsible for Rathbone’s investment management business in Liverpool, is delighted about the growth in the city.

“We provide an operational platform for the entire Rathbones business,” he said. “We have to continually invest in our operational support in Liverpool so the expansion is great for us.

“As a business, we continue to grow, but in a conservative way.”

The firm, which now has 11 UK offices, yesterday announced a 2.5% rise in first-half profits to £24m despite what it described as “very challenging” times.