UK's Rathbones hits 1-year low on pausing new client onboarding
Today 08:30
BUZZ-UK's Rathbones hits 1-year low on pausing new client onboarding ** Shares in Rathbones RAT.L tumble over 17% to about 1-year low of 1632p, top loser on FTSE midcaps .FTMC index
** UK wealth manager says it will pause onboarding of new clients who need enhanced due diligence (EDD) and inflows from existing EDD clients
** Co to recognize £60 million ($80.42 million) in costs for the changes it plans to undertake after a review of its UK wealth management business in engagement with UK's FCA
** Stock down 14% so far this year
($1 = 0.7461 pounds)
(Reporting by Prerna Bedi in Bengaluru)
((Prerna.Bedi@thomsonreuters.com ; +91 98052 24616))