STM Group, the international financial services provider which owns Carey Pensions (now known as Options), is to make its chief operating officer Peter Marr redundant in the second half of the year as it downsizes its executive team.

STM Group, the international financial services provider which owns Carey Pensions, has reported a 48% drop in profit before taxation for the year ended 31 December.

Options UK Personal Pensions (formerly Carey UK Pensions) has sought permission from the Supreme Court to appeal the recent judgment by the Court of Appeal in the long-running and pivotal Adams v Carey SIPP case.

STM Group, the international financial services provider which owns Carey Pensions, has delayed its 2020 year end results following discussions with its auditors after the recent shock Adams v Carey court judgment.

SIPP provider STM, the owner of the London & Colonial and Options SIPP businesses, has sold some of its Gibraltar-based businesses for just over £3m.

STM Group has acquired Berkeley Burke (Financial Services) and Berkeley Burke Employee Benefit Consultants, which provide administration and consultancy services to SSAS and international businesses, in a deal worth up to £2.9m.