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Brewin Dolphin, in Newcastle, admits it will make some redundancies after Stockton closure
A NORTH-EAST investment management firm is making redundancies after closing a regional office.
Brewin Dolphin says it has closed its Stockton branch and is expanding its Newcastle base to strengthen the business.
The company employs about 300 workers in Newcastle and had 12 members of staff in Teesside.
It says a number of workers will move to Newcastle, but admitted the company would be making some redundancies, though it couldn't say how many people would lose their posts.
Bosses say the move will allow the company to offer broader investment management and financial planning services, and added the firm, which sponsors Durham County Cricket Club, will continue the same level of commitment to its work across Teesside.
William Baker-Baker, Brewin Dolphin regional director for the North, was previously head of the Teesside office for more than 12 years, and is overseeing the expansion.
He said: “I recognise this is a sad day for Teesside, we are continually reviewing how we conduct business to ensure that our clients receive the best possible service.
“There will be absolutely no deterioration in any of our services, this move will allow us to focus on the services that we offer. “It is certainly not a withdrawal from Teesside.
“We are very committed to the area and I am very confident that our clients will be very well served from the expanded office and that we will continue to grow our important and highly valued business in the Teesside area.”
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