Investment management firm St James's Place (SJP) has confirmed the appointment of Mark FitzPatrick, former Prudential (LON:PRU) boss, as its new chief executive officer, replacing long-standing CEO Andrew Croft. The announcement made today, Wednesday, follows weeks of speculation that FitzPatrick was the leading candidate for the role.
FitzPatrick previously worked at Prudential, where he held several senior positions. He served as the chief financial officer starting in 2017, became the chief operating officer in 2019, and has been acting as the interim CEO since February 2023. "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," SJP chair Paul Manduca said.
This leadership change at SJP had been anticipated since May when the company announced it was seeking a successor to Croft. Croft has had a significant career at SJP, joining in 1993 and serving as chief financial officer from 2004 to 2017 before taking on the role of CEO in 2018.
While Croft will step down from his position as CEO, he will not be leaving SJP immediately. He is set to stay on the board until the end of this year and will continue to assist the business into 2024 "as required," according to a statement released on Tuesday.
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