St James's Place  

SJP managing director Gascoigne to step down

SJP managing director Gascoigne to step down

The managing director of the St James’s Place Partnership, Ian Gascoigne, has announced his retirement, as the firm experienced a bumper fourth quarter with inflows up 24 per cent.

In a statement to the stock exchange this morning (January 27), Ian Gascoigne said he will retire from the board and as a director on March 31 this year.

He has been an executive at the firm for more than 30 years, and will continue to serve on a part time basis in an advisory capacity and as a trustee of the St James’s Place Charitable Foundation.

He said since joining the “start-up” company in 1991, he was delighted to have played a “small part” in helping to build the firm into the FTSE 100 company it is today.

“I would like to thank everyone in our community for making my 30 years so enjoyable and rewarding," he said.

“I am pleased to say the group is in excellent shape to take advantage of the opportunities ahead and I look forward to continuing the association in an advisory capacity."

Andrew Croft, chief executive officer of St James’s Place, said: "I would like to thank Ian personally for his exceptional contribution to St. James's Place over three decades since the business was founded.

“I am delighted that he has accepted our invitation to remain with the group on a part time basis in an advisory role and we look forward to continuing to work with him and benefit from his experience and insights."

In the firm’s fourth quarter results, also announced today, the group saw net inflows rise 24 per cent, bringing its funds under management to £154bn.

Gross inflows for the quarter rose 15 per cent to £4.7bn, taking total gross inflows for the year to £18.2bn, 27 per cent higher than in 2020.

Croft said the strong quarter was a result of a “favourable” market backdrop as well as the “hard work” of the firm’s advisers.

He added: “As we look ahead, our performance in 2021, together with the growth in the partnership and continued long-term demand for face-to-face advice, means we remain confident in achieving our 2025 ambitions."

The results round off a positive year for the firm, which saw a “record” end to 2020 and “record” first and third quarters this year.