Wealth manager credits furloughing and salary waivers for pandemic performance

News Team, 24/06/2020

Brian Raven, the CEO of Tavistock

Wealth manager Tavistock Investment said today that voluntary salary waivers by staff had helped it weather the Covid-19 pandemic in fine fettle – so far at least.

In an update to the London Stock Exchange, the firm said trading during the first two months of its financial year (April and May) had been ahead of the board’s expectations.

This was due to both its “swift” pandemic response and its ‘Acumen’ portfolio range which had performed strongly, the firm said.

“Voluntary salary waivers by all senior management and the significant majority of other staff, together with use of the government's furlough scheme, mean the company has continued to trade profitably during lockdown,” Tavistock said.

The Acumen range is designed to shield clients from sharp...

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