SJP reaches record £71bn funds under management
St James’s Place has reached a record £71bn ($86bn, €76bn) in funds under management after a bumper year helped by the acquisition of UK wealth manager Rowan Dartington.
St James’s Place has reached a record £71bn ($86bn, €76bn) in funds under management after a bumper year helped by the acquisition of UK wealth manager Rowan Dartington.
Schroders big-wig Robin Stoakley moves on from his role as the asset manager’s head of UK intermediary business as HSBC Private Bank hires a new head for its APAC division. Rowan Dartington poaches former Brewin Dolphin sales guru as platform giant Hargreaves Lansdown appoints a new tech head.
Rowan Dartington has registered a year-to-date FUM increase of 25%, buoyed by its private client, IFA and international businesses, as well as funds from parent St James’s Place.
Axa Asia has named a chief executive of Life & Savings and Distribution, while Legal & General have added to its investment and pension risk transfer businesses with two appointments. Aegon Asset Management has bolstered its American real estate advice business with three people moves.
Generali has confirmed that a top executive in Asia has resigned, while a Schroders veteran is set to leave the company after a recent corporate restructure saw his role disappear. Standard Chartered, meanwhile, has named a heavy hitter from the IMF as its next chairman and appointed a private banking regional head in Asia.
Axa promotes internally to fill chief operating officer role for its Asian operations, while Walker Crips hires ex-Nutmeg head of compliance. Rowan Dartington appoints new investment manager in its London office, as China’s GFI gets new chief investment officer.
Amundi subsidiary CPR Asset Management has named a new chief executive, with Cazenove’s new chief investment officer joining from Architas. Northern Trust AM has a new head of Asia Pacific, while the chief executive of newly rebranded Al Hilal is to depart.
FPI has named a new financial director and Source has appointed a UK chief executive. In spite of break-up rumours, Old Mutual Wealth has hired a head of proposition from Sanlam. Both Vonobel and Aviva Investors announced departures.
Announcing strong results for the full year, St James’s Place said it is planning a new office in Canary Wharf, following the completion of the Rowan Dartington acquisition.
Rowan Dartington’s acquisition by UK wealth manager St James’s Place for £34m in cash will boost the appeal of its platform, Ardan International, to financial advisers and help expand its business in Asia, the company’s chairman said.
Rowan Dartington has tapped into the international wealth management market with the rebrand and full launch of its international wealth platform.
Isle of Man based platform Acordias has been acquired by Rowan Dartington.