The chief executive of SJP said: “Henley is a company that shares our values and beliefs and therefore is the ideal partner to introduce the St James’s Place offering to the Asia region.”
The acquisition, announced in February and for an undisclosed sum, sees Henley bring more than 50 advisers and £400m assets under management to the SJP group along with offices in Hong Kong, Singapore and Shanghai.
Mr Bellamy said: “We firmly believe that there is a growing need for high quality relationship based wealth management in the expatriate community in Asia. It makes sense to start from somewhere where our approach and expertise might resonate - the British expatriate community in Asia - and work with a company that shares our values and beliefs.”
Antony Michell, chairman of The Henley Group, added: “We have spent more than 24 years building this wealth management firm in Asia and now, with the support of SJP, we are excited to begin the next chapter of this journey.”
Earlier this year SJP announced results showing net inflows in funds under management rose from £3.35bn in 2012 to £4.3bn in 2013, while profits net of tax rose from £459.7m to £674.5m during the same period.
The distribution business lost £6.1m, compared with a profit of £5.3m in 2012, which the firm attributed to higher expenses in 2013 associated with a rise in partner numbers, up 9.5 per cent in the period.
It also paid £5.5m in levies to the Financial Services Compensation Scheme.
