St. James's Place CEO Search Underway as Andrew Croft Steps Down

St. James's Place, a wealth management company, is searching for a new CEO after Andrew Croft announced his plans to step down.

The firm, which manages over £150bn in client assets, has hired Russell Reynolds Associates, a headhunter, to find a successor.

Croft has worked for the company for 27 years and has served as CEO since 2018.

The search process is expected to take more than a year.

The company has faced questions about its recent performance, including missing a key expenses growth target and a row about partners' pay and perks.

The introduction of a new consumer duty supervised by the Financial Conduct Authority is also expected to impact the company.