St. James's Place PLC CEO Succession (2917M)
13 Septiembre 2023 - 1:04AM
UK Regulatory
TIDMSTJ
RNS Number : 2917M
St. James's Place PLC
13 September 2023
THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT
QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE
MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU)
596/2014
PRESS RELEASE
13 September 2023
MARK FITZPATRICK TO SUCCEED ANDREW CROFT AS CEO OF ST. JAMES'S
PLACE
St. James's Place ("SJP" or "the Company") today announces the
appointment of Mark FitzPatrick to the Board of Directors as Chief
Executive Officer Designate with effect from 1 October 2023. Mark's
appointment follows an extensive and robust selection process by
the Group Nomination and Governance Committee, considering both
internal and external candidates. Subject to regulatory approvals,
Mark will assume the role of Chief Executive Officer on 1 December
2023.
Mark will succeed Andrew Croft, who has been with St. James's
Place since 1993, serving as its Chief Financial Officer from 2004
to 2017 and as Chief Executive Officer since 2018. Andrew will step
down as a director of the company on 1 December 2023 following an
orderly handover and will remain with St. James's Place into 2024
to assist the business as required.
Mark was Group Chief Executive Officer of Prudential plc
("Prudential") on an interim basis until 24 February 2023. Prior to
this, he was the Chief Financial Officer of Prudential from 2017 to
2022, becoming Chief Operating Officer also in July 2019. During
this period, Mark was a member of an executive team which
transformed Prudential into a saving, investment and insurance
business focused on Asia and powered by digitally enabled
face-to-face advice. Before joining Prudential, Mark was a Managing
Partner at Deloitte, a member of the Executive Committee and Vice
Chairman between 2011 and 2015. He previously led Deloitte's
insurance and investment management audit practice and its
insurance industry practice. Mark is also a Non-Executive Director
and Chair of the Audit and Risk Committee of Scottish Mortgage
Investment Trust PLC and a trustee of the British Heart
Foundation.
Paul Manduca, Chair of St. James's Place, said : "I am delighted
to announce the appointment of Mark FitzPatrick as SJP's next Chief
Executive Officer. Mark has a well-established track record in
retail financial services and the Board believes he will bring
expertise and energy to the role. We all look forward to working
with him.
"On behalf of the Board, I would like to thank Andrew for his
unwavering commitment to St. James's Place over the last 30 years.
During his tenure as Chief Executive Officer since 2018, client
funds under management have grown to GBP157.5 billion, cementing
our position as the leading financial advice and wealth management
business in the UK today. Andrew will be greatly missed by everyone
at SJP, and we wish him our very best in his retirement."
Andrew Croft said : "I am immensely proud of all we have
achieved at St. James's Place. Having joined the business over
three decades ago, I can see just how far we have come. From a
start-up in 1991 to a FTSE100 company today, St. James's Place has
transformed the wealth management industry by providing trusted
face-to-face, personalised advice. Our success is down to the depth
and quality of the Partnership and the enduring relationships they
forge with clients to deliver great consumer outcomes. It has been
a great privilege to work with everyone within our broad St.
James's Place community, and I wish Mark and the business every
success in the future."
Mark FitzPatrick said : "St. James's Place is a business full of
people who are passionate about helping families and individuals
secure their financial futures. The distinctive quality of the
service provided by its Partners is more important now than ever,
and I cannot wait to join the team. By continuing to do the right
thing for clients and adapting with agility to our fast-changing
world, I am confident that St. James's Place will be in a strong
position to create value for all stakeholders in the years to
come".
Enquiries:
Hugh Taylor, Director - Investor Relations Tel: 07818 075143
Jamie Dunkley, External Communications Director Tel: 07779 999651
Brunswick Group: Tel: 020 7404 5959
Eilis Murphy Email: sjp@brunswickgroup.com
Charles Pretzlik
Additional information
Mark FitzPatrick's appointment is subject to approval by the
Financial Conduct Authority and the Prudential Regulation
Authority. Mark has no other disclosable appointments and no other
information is required to be disclosed pursuant to paragraph LR
9.6.13R of the Listing Rules of the Financial Conduct Authority.
Mark's remuneration arrangement with effect from appointment as CEO
Designate have been set in accordance with the Directors'
remuneration policy approved by shareholders at the 2023 AGM on 18
May 2023.
Mark will receive an annual salary of GBP840,000 and a pension
allowance of 10% of salary, which is aligned to the pension
allowance for the Group's workforce. He will be able to participate
in the Company's annual bonus plan and long-term incentive plan,
consistent with the terms of the Directors' Remuneration Policy
approved by shareholders.
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END
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