St James’s Place PLC on Wednesday said Mark FitzPatrick, a former chief financial officer at Prudential PLC, will become its new chief executive officer in December.

The Cirencester, England-based wealth manager said that current CEO Andrew Croft will step down ‘following an orderly handover’ on December 1, but will remain with St James’s Place into 2024 in an assistance capacity.

St James’s Place said FitzPatrick was appointed CEO designate with effect from October 1, and will assume the CEO role on December 1.

FitzPatrick was CFO of insurance firm Prudential from 2017 to 2022, and also became chief operating officer in 2019. He served as Prudential’s interim CEO from April 2022 until February this year. Prior to joining Prudential, he was a managing partner at Deloitte.

Chair Paul Manduca said that FitzPatrick ‘has a well-established track record in retail financial services and the board believes he will bring expertise and energy to the role’.

Croft joined St James’s Place in 1993, before serving CFO from 2004 to 2017. He was promoted to CEO in 2018.

Shares in St James’s Place were down 0.3% at 855.30 pence in London on Wednesday morning.

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