David Bellamy has been appointed chief executive of St James’s Place with immediate effect.
The wealth management group has been promoted to the helm from his former position of group managing director, which he has held for five years.
Bellamy took interim responsibility for the day-to-day running of the group following the departure of the previous chief executive Mark Lund earlier this year.
A search both internally and externally was being conducted by the nomination committee, led by senior independent non-executive director Michael Sorkin.
Chairman Mike Wilson says: “Our decision to appoint David is a reflection of the Board’s confidence in his experience and proven management ability. David has been with St James’s Place since the Group’s inception 15 years ago. He is highly thought of both internally and externally.”
Bellamy says: “I am delighted to have the opportunity to lead St James’s Place. We have an excellent and very experienced management team and I look forward to working with them to continue to grow the business.”