LONDON, UK: St. James’s Place wealth management business announced 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 FitzPatrick 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 on an interim basis until 24 February 2023.

 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 £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.”

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”.