Charles Stanley & Co, the UK stockbroker, has hired a team of 10 bankers from Teather & Greenwood.

The new recruits, many at senior level, have joined the corporate finance, corporate broking and equities research teams of Charles Stanley. They all used to work at UK rival Teather & Greenwood, which has been struggling to stay afloat recently and been forced to make several redundancies. Teather & Greenwood is also selling its private client business to raise some extra cash. However, all bar one of the new Charles Stanley recruits chose to leave Teather & Greenwood, and only one was part of the redundancy programme.