St. James’s Place has revealed that Mark Lund has stepped down as chief executive and is leaving the group to seek a fresh challenge.
In a statement on the resignation, St. James’s Place says it make a joint decision with Lund that he should step down.
The search for a new chief executive will start shortly, but in the interim period David Bellamy, who has been group managing director over the last five years, will take over responsibility for the day-to-day running of St. James’s Place.
He will be supported by group finance director Andrew Croft and group sales director Ian Gascoigne.
Mike Wilson, chairman of St. James’s Place, says: “The board would like to thank Mark for his significant contribution and commitment since joining the group three years ago and becoming chief executive in September 2004.
“During this time St. James’s Place has grown new business and profits substantially.
“The St. James’s Place Partnership is well positioned to continue to capitalise on the opportunities in the fast expanding wealth management market.
“We wish Mark continued success in the future.”
Lund adds: “The last three years have been outstanding for the group and I am delighted to have been part of this.
“I wish everyone at St. James’s Place a very successful future.”
The group also confirms that growth in new business continued in Q4 and that new business is in line with market expectations.
Its new business results will be announced on January 25.