Wealth management firm St. James’s Place will close its Shanghai office and instead focus on Hong Kong and Singapore for its regional business.
St. James’s Place will close its Shanghai office in 2023, according to a report by «International Adviser»
«Our office in Shanghai came as part of an acquisition we made several years ago and has remained a small part of our Asia footprint while we have invested in our two key regional hubs in Hong Kong and Singapore,» said a spokesperson for the firm.
«Given it is not core to our Asia business, we have decided not to renew the lease of our office in Shanghai and instead close this operation later in the year.»
Asia Reshuffle
In addition, the British wealth manager has also seen a reshuffle of its senior managers in the region.
In February, Hong Kong CEO Oliver Wickham took on the additional role of Singapore CEO to replace Gary Harvey who will will leave the firm later this year.
St. James’s Place has been operating in Asia since 2014 following the acquisition of the Henley Group.
