Wealth manager St. James's Place says chairwoman Bates to retire

(Reuters) - British wealth manager St. James's Place SJP.L said on Wednesday its Chairwoman Sarah Bates has decided to retire and will be succeeded by Senior Independent Director Iain Cornish.

The firm’s Independent Non-executive Director Roger Yates will take the place of Cornish, SJP added.

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

Bates, who joined the board in 2004 and became chairman in 2014, navigated the company through a changing environment during which St. James’s Place saw strong growth, the company said in a statement.

SJP offers a range of financial services to wealthy clients and has benefited from a change in British rule that made it easier for clients to access pension savings, in turn fuelling demand for help in managing the money.

Reporting By Justin George Varghese in Bengaluru; Editing by Arun Koyyur