St.James’s Place (SJP) is on the verge of entering the FTSE 100 for the first time.
The financial services group is one of two companies being put forward for inclusion at the next quarterly rebalancing of the blue chip index, alongside Barratt Developments, the FTSE Group confirmed.
The final decision will be made by the FTSE EMEA Committee after the market close today. If successful, the move will be made effective after the market close on 21 March and it will begin trading on the FTSE 100 on Monday 24 March.
St. James’s Place’s, led by chief executive David Bellamy (pictured), has seen its share price surge by more than 73% over the last 12 months as the company emerged as one of the big winners from the retail distribution review. It is widely held by fund managers, including the AA-rated pair Threadneedle’s Simon Brazier and Rathbones’ Julian Chillingworth along with Franklin Templeton’s A-rated Colin Morton.