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AJ Bell to relocate 100 stockbroking and back office jobs from Tunbridge Wells to Manchester

By Chris Price

Pension provider AJ Bell is to relocate about 100 jobs in the county to its headquarters in Manchester.

The investment business will move its stockbroking division from Tunbridge Wells to its larger head office in the North West, which it says can accommodate the growth of the firm.

A small number of specialist roles will move to its London office as it tries to “streamline certain processes and improve communication between teams”.

AJ Bell chief executive Andy Bell
AJ Bell chief executive Andy Bell

No roles will be lost due to the move and AJ Bell will be looking to recruit in Manchester to fill any roles not taken up by current staff.

All staff affected by the relocation have been offered roles and packages will be provided to help with moves where necessary.

AJ Bell gained the Tunbridge Wells site when it acquired stockbroker Lawshare in 2007, which it renamed to AJ Bell Securities.

The site grew from 23 staff to about 100 within five years.

The office will be closed following the relocation operation.

A spokesman said the company is consulting with staff and it is unclear how many will make the move to Manchester.

AJ Bell's stockbroking office is in Calverley House in Tunbridge Wells. Picture: Google Maps
AJ Bell's stockbroking office is in Calverley House in Tunbridge Wells. Picture: Google Maps

The relocation comes after AJ Bell, which is among the fastest-growing online investment platforms in the UK, reported record business volumes in its half-year results.

New business was up 68% to £3.6 billion and pre-tax profits grew 27% to £11.2 million.

It now administers £36.3 billion of investments on behalf of 152,000 customers.

Chief executive Andy Bell, who founded the business in 1995, said: “Our highest priority is the quality of the service we provide to advisers and customers.

“Consolidating teams that work closely together into one location will enable us to improve certain processes and ensure we operate as efficiently as possible.

“It also gives us the space we require as the business grows.”

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