St James's Place (SJP) is nearing the acquisition of one of the largest privately-owned IFA firms in the Asia region, in what its chief executive said could represent the first of several moves into expatriate jurisdictions.
The vertically integrated wealth manager, which was previously part-owned by Lloyds Banking Group, said the acquisition of the 55-adviser The Henley Group is subject to regulatory approval and should be complete within the next six weeks. The Henley Group has three offices in Hong Kong, Singapore and Shanghai and manages around £400m in client funds. SJP chief executive David Bellamy (pictured) said: "This is the first time we have gone into something like this but it is English advisers advising UK expats. Henley has around 3% market share. If it goes well, we may well look at other ...
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