Prestigious wealth management firm, St. James's Place, has announced Mark FitzPatrick as its new CEO.
The firm is the UK's leading wealth management company — and is also number one in SoGlos's Top 100 Businesses in Gloucestershire.
FitzPatrick's appointment comes after what SJP describes as a 'robust selection process by the Group Nomination and Governance Committee, considering both internal and external candidates'.
Providing he receives all the relevant regulatory approvals, he will officially take up the role of chief executive officer from December 2023, acting as chief executive officer designate from Sunday 1 October 2023.
He succeeds Andrew Croft, who served as SJP's chief financial officer from 2004 to 2017 and as CEO from 2018, having been with the company since 1993. He steps down from the post on Friday 1 December 2023 but will remain with SJP into 2024 to assist the business where required.
FitzPatrick brings years of experience to the position, having previously held roles including interim group chief executive officer, chief financial officer and chief operating officer at Prudential plc; managing partner, member of the executive committee and vice chairman at Deloitte; and non-executive director and chair of the Audit and Risk Committee of Scottish Mortgage Investment Trust plc. He is also a trustee of the British Heart Foundation.
He 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.'
Chair of St. James's Place, Paul Manduca, added: '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 £157.5 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.'