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Outgoing SJP boss to join private bank

Outgoing SJP boss to join private bank

David Bellamy, the outgoing chief executive of St James's Place, will join Weatherbys Bank as its chairman.

Mr Bellamy, who will have run SJP for 11 years when he leaves this year, will be the first person from outside the Weatherby family to run the company in its 245-year history.

He will replace Johnny Weatherby, who has been chairman of the banking arm of the business since it was incorporated in 1994 and who will continue as a non-executive director.

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Weatherbys provides British horse racing with its central administration under contract from the British Horseracing Authority and registers all thoroughbred horses in Britain and Ireland.

Weatherbys Bank, based in Northamptonshire, was set up to provide banking services to those involved in horse racing but has been expanding beyond this.

Roger Weatherby, chief executive of Weatherbys Bank, said: "I am delighted to welcome David as our new chairman. His experience in the financial services sector, his leadership skills, and his passion for innovation, growth, and trusted advice will make him an invaluable addition to Weatherbys Bank.

"David is deeply respected and his appointment will bolster our position as a leading private bank. His track record at St James’s Place speaks volumes for his ability, where, over the course of 11 years as Chief Executive, funds under management more than quadrupled to over £85bn."

Mr Bellamy, who joined SJP when it was formed in 1991, will be replaced by chief financial officer Andrew Croft.

Mr Bellamy said: "The company has an excellent reputation amongst its clients due to the absolute focus it has on the delivery of a bespoke, personal and relationship-based service.

"Its heritage, track record and exceptional client focus provides the perfect platform for its future aspirations and I very much look forward to working with Roger, Johnny and the entire team at Weatherbys through the next phase of the bank’s growth."

damian.fantato@ft.com