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(Sharecast News) - Rathbones Group revealed on Tuesday that chairman Clive Bannister and chief executive Jonathan Sorrell had both spent roughly 250,000 on shares in the FTSE 250-listed investment and wealth manager.
Sorrell acquired 15,320 shares at an average price of 1,630p each, for a total value of 249,715.99, while Bannister snapped up 15,300 shares at an average price of 1,638p each, for a total value of 250,613.99.
Rathbones shares were in free fall on Tuesday after it said a skilled person review following engagement with the Financial Conduct Authority had identified areas for improvement in its UK Wealth Management business, including the implementation and embedding of Consumer Duty and aspects of compliance, oversight and assurance.
As of 1600 BST, Rathbones shares had sunk 16.39% to 1,632p.
Reporting by Iain Gilbert at Sharecast.com
Top Director Buys
Rathbones Group (RAT)
Director name: Bannister,Clive
Amount purchased: 15,300 @ 1,638.00p
Value: 250,613.99
Rathbones Group (RAT)
Director name: Sorrell ,Jonathan
Amount purchased: 15,320 @ 1,630.00p
Value: 249,715.99
Metlen Energy & Metals (MTLN)
Director name: Mytilineos,Evangelos
Amount purchased: 5,000 @ 42.33
Value: 211,626.00
B&m European Value Retail (BME)
Director name: Pritchard,Peter
Amount purchased: 53,016 @ 192.39p
Value: 101,999.08
Dr. Martens (DOCS)
Director name: Nwokori,Ije
Amount purchased: 112,500 @ 76.10p
Value: 85,612.50
Halma (HLMA)
Director name: Nebhrajani,Sharmila
Amount purchased: 248 @ 4,063.00p
Value: 10,076.24
Ecofin Global Utilities And Infrastructure Trust (EGL)
Director name: Nicklin ,Susannah
Amount purchased: 3,650 @ 272.36p
Value: 9,941.14
Top Director Sells
Wpp (WPP)
Director name: Rose ,Cindy
Amount sold: 88,227 @ 281.60p
Value: 248,447.23