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SJP replaces chairman in board reshuffle

by Jun Merrett on Nov 13, 2013 at 11:39

SJP replaces chairman in board reshuffle

Restricted advice group St James's Place is to replace its chairman in a board reshuffle.

Charles Gregson, non-executive chairman will step down from the St James's Place board at the end of the year to spend more time on his other directorships and will be replaced by Sarah Bates, currently senior independent non-executive director, on 1 January 2014.

Bates is also chairman of the JP Morgan American Investment trust and Cancer Research UK Pension Fund Investment Committee and was formerly chairman of the Association of Investment Companies.

As part of the reshuffle, Iain Cornish, currently independent non-executive director will become senior independent director.

Mike Power, independent non-executive director, will step down from the board at the end of the year but remain an independent non-executive director for Dublin-based life company St James's Place International.

Simon Jeffreys, a former partner at PriceWaterhouseCoopers and group chief administrative officer at Fidelity, and Roger Yates, former chief executive of Henderson, will both join the board as independent non-executive directors.

Bates: ‘On behalf of the board, I would like to thank Charles for his significant contribution as a non-executive director and then chairman of St. James’s Place and he will leave the company and board in excellent shape.

'I would also like to thank Mike for his long-standing commitment and invaluable contribution as a non-executive director over the last nine years. We look forward to welcoming Simon Jeffreys and Roger Yates, who will be strong additions to our board.'

10 comments so far. Why not have your say?

l'ifa passeport en provenance de France

Nov 13, 2013 at 12:14

nice one Jun............. Restricted advice group

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Simon Kershaw

Nov 13, 2013 at 12:31

Excellent nomenclature Jun.

Perhaps this could become the description used when referring to this company whose "partners" are tied agents and are thus forbidden from providing advice on non St James Place products.

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Bored at work

Nov 13, 2013 at 13:58

Maybe Hector is heading here, he'll fit in well at SJP and i am sure they will want to give him a medal. PS why no comments NMA on the Hector Resignation story?

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martin d

Nov 13, 2013 at 14:03

SJP are restricted advice - they have own products and some limited non-SJP products = restricted. The Partners are Appt Reps. They are not tied agents as they have responsiblity.

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Stuart Rathbone

Nov 13, 2013 at 14:13

And in other news Sants resigns from Barclays and since comments have been disabled on that story all that remains is for me to wish him a speedy recovery and good fortune in his future endeavours.

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l'ifa passeport en provenance de France

Nov 13, 2013 at 15:00

Stuart

be careful what you wish for ! hector back at the FCA?

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Keith Cobby

Nov 13, 2013 at 15:32

We do not seem to be able to comment on Mr Sants, so I will make mine here.

'When the going gets tough...............'

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c.nicol

Nov 13, 2013 at 15:35

Restricted Advise Group-RAG...how cyclically apt!

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Stuart Rathbone

Nov 13, 2013 at 15:36

If it were me mon expat amie I would be off to splendid anonymity somewhere as, if the Sh1t show he and his ilk have presided over the last fifteen years or so ever gets out (what we have suffered is just a side show) there will be many a regulator/banker/politician swinging from the lampposts.

Check this out for a more visceral way of policing the financial system:

http://www.bloomberg.com/news/2013-11-12/ex-bank-executive-may-face-death-in-vietnam-fraud-trial.html

and this for some well considered arguments (US centric but I am sure they apply all around the planet) why it has not happened:

http://www.zerohedge.com/news/2013-11-12/why-has-nobody-gone-jail-financial-crisis-according-judge-rakoff-its-governments-fau

But sadly it was ever thus.

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c.nicol

Nov 13, 2013 at 16:09

@ Stuart -very good. put in time capsule and revisit in circa 2 yrs.

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