Granite leaves Frenkel Topping after selling shares for £3.5m

Deal done

Jason Granite, a key director in Salford Quays-based independent financial adviser Frenkel Topping Group (FTIM), has left the company which has paid him more than £3.5m for his shares.

FCFM Group in which Granite is also a director and substantial shareholder has also sold its stake back to Frankel Topping for just above £3m.

The six million shares have been acquired equally between Frenkel Topping Group and the Frenkel Topping Employee Benefit Trust.

Granite has left the company as both a director and chief investment officer with immediate effect to pursue other interests, Frenkel Topping said today (Friday, December 15).

During his tenure Granite helped grow the company from inception to more than £300m of assets under management (AUM) and the company’s total AUM by over £175m.

Frenkel Topping does not intend to appoint a replacement chief investment officer but will operate an investment committee from within FTIM, formed of current team members.

Executive chairman Paul Richardson said: “I would like to thank Jason for his work at the company, overseeing a move to new offices, together with the establishment of the FTIM platform and a significant improvement in the company’s operating margin.

“We wish him all the best in his future endeavours and continue to look forward with confidence to the ongoing growth of the company.”

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