Wealth manager St James’s Place has appointed Mark FitzPatrick from Prudential as chief executive from 1 December.

He will succeed Andrew Croft, who has been with St. James’s Place since 1993, serving as its chief financial officer from 2004 to 2017 and as chief executive since 2018.

Mr FitzPatrick was group chief executive of Prudential on an interim basis until 24 February. Prior to this, he was the company’s chief financial officer from 2017 to 2022, also becoming chief operating officer in July 2019.

Before joining Prudential, he was a managing partner at Deloitte, and also a non-executive director and chairman of the audit and risk committee of Scottish Mortgage Investment Trust and a trustee of the British Heart Foundation.

In his new role he will receive an annual salary of £840,000 and a pension allowance of 10% of salary, which is aligned to the pension allowance for the group’s workforce.

He will be able to participate in the company’s annual bonus plan and long-term incentive plan, consistent with the terms of the directors’ remuneration policy approved by shareholders.