CCLA staff face redundancy in overhaul

Charity investment specialist CCLA is to make 16 of its 110 staff redundant as part of an overhaul to bring the organisation up to date.

The fund manager, which has approximately 29,000 charity clients, said the jobs would be lost mainly from the client-relationship teams. Some investment managers and administrators would also be lost.

The changes have been coordinated by Michael Quicke, chief executive of CCLA, who was brought in two years ago to improve the business and engage better with investors.

"We have spent an enormous amount of time talking to the sector, which has allowed us to look at the way we operate," Quicke told Third Sector. "CCLA was very good at providing a range of single products, but what the sector needs is speed, flexibility and the ability to fit clients' specific circumstances."

Quicke said the changes would result in the loss of some investment managers from the old regime and the creation of a single client-relationship team that would put customers in touch with expert staff.

He described laying off staff as a "deeply unpleasant experience".

He added: "For those who won't have a role going forward, we compensated them as generously as we could afford."

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