Rich British Expatriates In Asia Being Headhunted By St James’s Place
British expatriates in Asia, specifically east and south east Asia, are being sought by St James’s Place in London. Why? You may ask. Well the London-listed wealth management company has its eye on around 120,000 British expats, who have wealth reaching in the billions of pounds when combined.
As such, the company is hoping that they are able to lure some of these individuals, as they look to expand into new markets across the globe. They have plans to acquire The Henley Group which would put them on course to expand outside the United Kingdom. At the moment it is the eastern markets that the company is setting its sights on, but they have had a look at the middle eastern markets.
Expansion into eastern markets is a natural step for St James’s Place
The company’s share price has gone up by 5%, and it is now the biggest company in the Uk mid-cap index by market capitalisation. Which has left it on the verge of entering into the FTSE 100.
St James’s Place are renowned for dealing with their clients face to face, offering advice to those who have anywhere between £50,000 and £5m to their name. Their work has boosted the company’s finances by £4.3bn during 2013, and with market movements going in their favour they managed to realise a rise of 27% to their fund. Taking it to over $44bn, this means the company can now officially say they are one of the best wealth managers in the UK, and why they are trying to attract British expatriates in Asia.