Closure blamed on changes in investment and regulatory environment
Westminster firm Bircham Dyson Bell has axed its investment management department, citing changes in the investment and the regulatory environment as the reason for its closure. The department, which currently handles the investment business or more than 200 clients, is due to close at the end of April. New managing partner Michael Wood said: "Although we regret having to close this department, investment management originally established to provide a seamless service between legal services and investment management is really no longer our core business, nor an area where we can effectively try to compete. The firm is recommending its clients to transfer their business, to investment management company Rathbones.