Mark FitzPatrick is reported to be the leading candidate to become the Cirencester-based wealth management company's next boss.

A former chief executive of Prudential is the leading candidate to become the next boss of St James's Place (SJP), it has been reported.

Sky News has reported that Mark FitzPatrick, who was the Pru's interim CEO for a period last year and spent more than two decades at accountancy firm Deloitte, has emerged as the SJP board's preferred choice to succeed Andrew Croft.

It is understood that the process could reach a conclusion as soon as next month.

A number of other internal and external candidates remain under consideration for the post, although, according to Sky News, City insiders said Mr FitzPatrick is "almost certain" to accept it.

If confirmed, his arrival would come after a lengthy handover period with Mr Croft, who has worked at SJP for 30 years.

St James's Place, which caters to affluent clients, oversees more than £150bn of client assets.

According to Sky News, Mr Croft was paid a total package for last year of just over £3m.

Punchline approached St James's Place this morning but a spokesman declined to comment.