Smith cashes in at Mattioli Woods

Executive director Murray Smith has been reducing his stake in pensions adviser Mattioli Woods.

The marketing and sales director has sold 50,000 shares at 235p each. This follows the sale of a further 50,000 shares at 230p a share. This leaves Smith with 253,866 shares, or 1.46% of Mattioli Woods.

Last September, Smith sold 60,000 shares at 205p a share. This means that he has raised more than £350,000 from share sales in the past six months.

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Smith joined Mattioli Woods in 1995 and he is responsible for all the firm's marketing activities and managing its team of consultants.

Mattioli Woods joined AIM in November 2005. The initial placing price was 132p a share.

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