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St James’s Place Joins the FTSE 100

As a result of a meeting of the FTSE EMEA Committee yesterday, the financial services and wealth management group St James’s Place will commence trading on the FTSE 100 on Monday 24 March.

Annual results for 2013 reported strong growth in all aspects of the business, leading to a 50% increase in dividend, while the last 12 months have seen the share price leap by over 73%.

SJP, with £44.3bn client funds under management, only achieved independence from the majority ownership of Lloyds Banking Group as recently as December 2013, but already since then the share price has risen by 30%.

The company announced at the end of February its intention to buy Henley Group, advisors with around £400m under management for a mainly expatriate clientele based principally in Hong Kong, Shanghai and Singapore.

SJP will be joined in the FTSE 100 by Barratt Developments, one of the UK’s leading housebuilders.

As a consequence, the comparatively unimpressive share price record of ingredients supplier Tate & Lyle and energy industry supply company Amec means these companies will drop out of the FTSE 100.

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