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Brewin Dolphin Hldgs (BRW)

  Print          Annual reports

Wednesday 31 January, 2001

Brewin Dolphin Hldgs

Re Directorate

Brewin Dolphin Holdings PLC
31 January 2001


Following  the downturn in on-line and  execution
only  trading  volumes compared with the exceptional  activity
levels experienced by the industry early last year, Stocktrade
has  postponed its plans for flotation.  As a result Sir Peter
Thompson  has decided to retire as Non-Executive  Chairman  of
Stocktrade,  and  Andy Hirst, by mutual agreement,  will  step
down  from  the Board to pursue other e-commerce opportunities
probably back in the United States.

The  Board of Brewin Dolphin Holdings is delighted to announce
that  Charlotte  Black, Marketing Director of Brewin  Dolphin,
and  a  member  of the CRESTCo Board will join  the  Board  of
Stocktrade,  to  take  over as Non-Executive  Chairman.   Mike
Graham  presently  a Director of Stocktrade  becomes  Managing

A  review  of  the  business has been  undertaken  and  it  is
expected  that  there  will  be a number  of  redundancies  at
Stocktrade.    The   resultant  cost  savings   should   allow
Stocktrade to achieve a small profit in the current  financial
year  on  the basis of present trading volumes.  The costs  of
the  redundancies and reorganisation will be charged to Brewin
Dolphin's  first half results for the current  year.   In  the
year ended 30th September 2000, Stocktrade contributed £38,000
to   Brewin  Dolphin  Holdings  pre-tax  profits  of   £24.2m.
Stocktrade's  first half profit in that year  was  £0.7m  with
losses in the second half of a like amount.

John  Hall,  Chief  Executive of  Brewin  Dolphin,  said  'Sir
Peter's  and  Andy Hirst's roles had been to  take  Stocktrade
through  a  phase of growth and development and  we  are  very
grateful for the contribution they have both made.  Stocktrade
has  reacted  quickly  to changes in activity  levels  in  its
sector.   I  would like to express our sincere thanks  to  the
continuing  Stocktrade team and to those who are  leaving  us,
for  their significant contribution to the development of  the

For further information, please contact:

John Hall
Chief Executive
Brewin Dolphin Holdings
Tel:  0207 248 4400

Hamish McFall
Rosie Brown
Tavistock Communications
Tel:  0207 600 2288


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