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Gloucestershire Business News

New appointments at the top of Gloucestershire’s biggest business

A new chairman has been announced to head up what - by 'turnover' - is the county's biggest business.

St. James's Place plc, which last year looked after £90.7 billion for customers and turned in a profit of £918.5 million, has revealed a number of changes at the top of the Cirencester firm.

Sarah Bates has decided to retire as chairwoman and as a director of the company to be replaced "in due course" by Iain Cornish (pictured right), currently the senior independent director.

Mr Cornish, currently still non-executive director, said: "I am delighted to have been asked to chair St James's Place and would like to thank Sarah for her tremendous contribution during her time on the board.

"I very much look forward to working with the rest of board and a first-class executive team to deliver further success into the future."

Roger Yates will also be appointed as the senior independent director.

"We are also in the advanced stages of a process to appoint a new independent non-executive director to the board," said the company.

Ms Bates, who joined the board in 2004 and became chairman in 2014, said: "Over this period, the company has delivered remarkable success, creating value for all its stakeholders.

"I am confident that Iain and Andrew, the board and the executive team will continue to deliver value to clients, partners, advisers, staff and shareholders and continue to evolve the business in the years ahead."

Ms Bates successfully navigated the board through what the company called a "changing environment" during which it experienced strong growth and the successful transition of Andrew Croft to chief executive officer from David Bellamy in January 2018.

It is expected the appointments will become effective in early July 2018.

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