(STJ.L) St James's Place PLC Buy/Sell

RNS Number : 5240C St. James's Place PLC 13 November 2009

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuer St. James's Place plc

of existing shares to which voting rights are attached: ii 2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights X

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments An event changing the breakdown of voting rights Other (please specify):
3. Full name of person(s) subject to the Prudential plc group of companies

notification obligation: iii
4. Full name of shareholder(s) See section 9

(if different from 3.):iv
5. Date of the transaction and date on 11 November 2009

which the threshold is crossed or reached: v
6. Date on which issuer notified: 12 November 2009
7. Threshold(s) that is/are crossed or Above 3%

reached: vi, vii 8. Notified details: A: Voting rights attached to shares viii, ix
Class/type of Situation previous Resulting situation after the triggering transaction
shares to the triggering
transaction

if possible using the ISIN CODE
Number Number Number Number of voting % of voting rights x
of of of shares rights
Shares Voting
Rights
Direct Direct xi Indirect xii Direct Indirect
Ord 15p Shares Below 3% Below 3% 14,753,744 14,753,744 3.06%

B: Qualifying Financial Instruments Resulting situation after the triggering transaction
Type of financial Expiration Exercise/ Number of voting % of voting
instrument date xiii Conversion Period xiv rights that may be rights
acquired if the
instrument is
exercised/ converted.

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi Resulting situation after the triggering transaction
Type of financial Exercise price Expiration date xvii Exercise/ Number of voting rights instrument refers to % of voting rights xix, xx
instrument Conversion period xviii
Nominal Delta

Total (A+B+C)
Number of voting rights Percentage of voting rights
14,753,744 3.06%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: xxi

Prudential plc (parent Company) The Prudential Assurance Company Limited (wholly owned subsidiary of Prudential plc)

Proxy Voting:
10. Name of the proxy holder: N/A
11. Number of voting rights proxy holder will cease N/A

to hold:
12. Date on which proxy holder will cease to hold N/A

voting rights:

13. Additional information:
14. Contact name: Matt Armitage
15. Contact telephone number: 01285 878158

This information is provided by RNS The company news service from the London Stock Exchange

HOLGUGCAGUPBGQW

(Corrects spelling of Polar Capital co-founder's surname to Woolley from Wooley)

(Adds Gleacher Shacklock LLP, ICAP, Polar Capital and others)
Nov 3 (Reuters) - The following financial services industry appointments were announced on Tuesday. To inform us of other job changes, e-mail moves@thomsonreuters.com.

Hedge fund group Polar Capital said chief executive Mark Kary will leave at the end of the year, with co-founder Tim Woolley taking charge as the cash-rich firm seeks to expand after a recovery in asset levels.

Gleacher Shacklock LLP, an independent corporate advisory firm, appointed Peter Alcaraz as a Senior Adviser. Peter would join next spring and work closely with partners Kieran Murphy and Angus Russell. Most recently, Alcaraz has been a Managing Director and head of the services sector team at Close Brothers Corporate Finance.

ICAP, an interdealer broker, appointed Gil Mandelzishas to its Global Executive Management Group. Mandelzishas is the CEO of Traiana Inc, an ICAP company.

ST JAMES'S PLACE
British wealth manager said it has appointed a chief investment officer to oversee a push to increase its funds under management. The company announced the appointment of Chris Ralph to the newly-created position alongside two other appointments to the investment committee.

Bank of America Merrill Lynch appointed Chong Lee Tan as head of Corporate and Investment Banking for Southeast Asia. Lee, who was previously with Goldman Sachs in Singapore, would join the bank in early 2010.

Heartwood, the independently owned wealth manager, appointed Giles Peel as head of Investment Communications. Peel will be based in the firm's London office and has joined from Coutts, where he was head of Investment Communications.

Foresight Group, an alternative asset manager, appointed Humberto Santillana as investment director of its Solar Team. Santillana would be initially based in Madrid. He joined from Fotowatio in Spain, where he was a director in the acquisitions and financing department.

Martin Currie Investment Management Ltd appointed Christine Montgomery and Neil Robson to its global equities team by the end of the year. Montgomery has joined Martin Currie from Edinburgh Partners and Robson from Pioneer Investments.

Arbuthnot Banking Group Plc appointed Dean Michael Proctor as Chief Executive of Arbuthnot Latham & Co. Ltd, the group's private banking division. Proctor was at Citibank for three years and most recently was managing director of wealth management and retail banking.

(Compiled by Shobhana Chadha in Bangalore) Keywords: FINANCIAL/MOVES (shobhana.chadha@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: shobhana.chadha.reuters.com@reuters.net)

COPYRIGHT

Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

(Adds Gleacher Shacklock LLP, ICAP, Polar Capital and others)
Nov 3 (Reuters) - The following financial services industry appointments were announced on Tuesday. To inform us of other job changes, e-mail moves@thomsonreuters.com.

Hedge fund group Polar Capital said chief executive Mark Kary will leave at the end of the year, with co-founder Tim Wooley taking charge as the cash-rich firm seeks to expand after a recovery in asset levels.

Gleacher Shacklock LLP, an independent corporate advisory firm, appointed Peter Alcaraz as a Senior Adviser. Peter will join next spring and work closely with partners Kieran Murphy and Angus Russell. Alcaraz is currently a Managing Director and head of the services sector team at Close Brothers Corporate Finance.

ICAP, an interdealer broker, appointed Gil Mandelzishas to its Global Executive Management Group. Mandelzishas is the CEO of Traiana Inc, an ICAP company.

ST JAMES'S PLACE
British wealth manager said it has appointed a chief investment officer to oversee a push to increase its funds under management. The company announced the appointment of Chris Ralph to the newly-created position alongside two other appointments to the investment committee.

Bank of America Merrill Lynch appointed Chong Lee Tan as head of Corporate and Investment Banking for Southeast Asia. Lee, who was previously with Goldman Sachs in Singapore, will join the bank in early 2010.

Heartwood, the independently owned wealth manager, appointed Giles Peel as head of Investment Communications. Peel will be based in the firm's London office and has joined from Coutts, where he was head of Investment Communications.

Foresight Group, an alternative asset manager, appointed Humberto Santillana as investment director of its Solar Team. Santillana would be initially based in Madrid. He joined from Fotowatio in Spain, where he was a director in the acquisitions and financing department.

Martin Currie Investment Management Ltd appointed Christine Montgomery and Neil Robson to its global equities team by the end of the year. Montgomery has joined Martin Currie from Edinburgh Partners and Robson from Pioneer Investments.

Arbuthnot Banking Group Plc appointed Dean Michael Proctor as Chief Executive of Arbuthnot Latham & Co. Ltd, the group's private banking division. Proctor was at Citibank for three years and most recently was managing director of wealth management and retail banking.

(Compiled by Shobhana Chadha in Bangalore) Keywords: FINANCIAL/MOVES (shobhana.chadha@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: shobhana.chadha.reuters.com@reuters.net)

COPYRIGHT

Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

Nov 3 (Reuters) - The following financial services industry appointments were announced on Tuesday. To inform us of other job changes, e-mail moves@thomsonreuters.com.
ST JAMES'S PLACE
British wealth manager said it has appointed a chief investment officer to oversee a push to increase its funds under management. The company announced the appointment of Chris Ralph to the newly-created position alongside two other appointments to the investment committee.

Bank of America Merrill Lynch appointed Chong Lee Tan as head of Corporate and Investment Banking for Southeast Asia. Lee, who was previously with Goldman Sachs in Singapore, would join the bank in early 2010.

Heartwood, the independently owned wealth manager, appointed Giles Peel as head of Investment Communications. Peel will be based in the firm's London office and has joined from Coutts, where he was head of Investment Communications.

Foresight Group, an alternative asset manager, appointed Humberto Santillana as investment director of its Solar Team. Santillana would be initially based in Madrid. He joined from Fotowatio in Spain, where he was a director in the acquisitions and financing department.

Martin Currie Investment Management Ltd appointed Christine Montgomery and Neil Robson to its global equities team by the end of the year. Montgomery has joined Martin Currie from Edinburgh Partners and Robson from Pioneer Investments.

Arbuthnot Banking Group Plc appointed Dean Michael Proctor as Chief Executive of Arbuthnot Latham & Co. Ltd, the group's private banking division. Proctor was at Citibank for three years and most recently was managing director of wealth management and retail banking.

(Compiled by Shobhana Chadha in Bangalore) Keywords: FINANCIAL/MOVES (shobhana.chadha@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: shobhana.chadha.reuters.com@reuters.net)

COPYRIGHT

Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

By Chris Vellacott

LONDON, Nov 3 (Reuters) - British wealth manager St James's Place Plc favours a market placing of Lloyds Banking Group's majority stake to avoid a trade sale or private equity buyout, the company said on Tuesday.
However St James's Place is not yet talking about the possible disposal to Lloyds, whose 60 percent stake has been mooted as a possible divestment candidate as the British bank attempts to wrestle itself away from state protection.
"When the time is right for us to talk about a separation then we'll talk about it," St James's Place Chief Executive David Bellamy said.
Bellamy told Reuters he viewed the company's independence as a priority and preferred the stake to be sold via a placing with a number of investors rather than be acquired by a trade or private equity buyer.
"Independence of management is the most important thing and we believe this is best served by the market ... The broader the share base the better," he said.
The shares fell after Bellamy mooted a share placing ahead of a straight sale, which could provide investors with a takeover premium. By 1030 GMT, the stock was down 3.1 percent at 253 pence. The shares have risen steadily from lows of around 150 pence at the end of April.
Lloyds said in a separate statement asset disposals would include Lloyds TSB Scotland, C&G branches, Intelligent Finance and the TSB brand, leaving the wealth management business in place for the time being.
Buyout houses such as TPG and Advent International had run their slide rules over the business in anticipation of disposals from Lloyds, sources familiar with the situation said.
CVC, Permira, Hellman & Friedman and other private equity firms have been pursuing financial services businesses, given banks' need to sell assets to improve balance sheets.
St James's Place is "firmly on the radar", one source said, stressing that no sale process is under way.

Bellamy was talking to Reuters after St James's Place announced the appointment of a chief investment officer to oversee a push to increase its funds under management.
Chris Ralph, who has worked at Fidelity International's fund of funds business, takes on a newly-created position alongside two other appointments to the investment committee.
Bellamy said the appointments form part of a move to increase the range of asset classes available to clients beyond its core long-equity investments base, incorporating more exposure to asset classes such as fixed income.
St James's Place also reported third-quarter new business numbers at the high end of analyst expectations on Tuesday.
Total new business on an annualised premium equivalent (APE) basis, calculated by adding new regular premiums to a tenth of new single premiums, was 104.6 million pounds ($171.1 million) up 3 percent from the period last year and compared with an analyst consensus of around 101.4 million.
Funds under management rose by 3.4 billion pounds during the quarter, reaching 20.3 billion, helped by improving investor confidence and buoyant markets.

(Additional reporting Simon Meads and Victoria Howley; Editing by David Holmes)

($1=.6115 Pound)

((For the Hedge Hub blog: http://blogs.reuters.com/hedgehub)) ((chris.vellacott@thomsonreuters.com; +44 (0) 20 7542 3987; Reuters Messaging chris.vellacott.thomsonreuters.com@reuters.net) Keywords: STJAMES/ (For Global Investing: http://blogs.reuters.com/globalinvesting)

COPYRIGHT

Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

LONDON, Nov 3 (Reuters) - St.James's Place Plc:

LONDON, Nov 3 (Reuters) - British wealth manager St James's Place on Tuesday said it has appointed a chief investment officer to oversee a push to increase its funds under management.
The company announced the appointment of Chris Ralph to the newly-created position alongside two othr appointments to the investment committee as it reported third quarter new business numbers at the high end of analyst expectations.
Total new business on an annualised premium equivalent (APE) basis, was 104.6 million pounds ($171.1 million) up 3 percent from the period last year and compared with an analyst consensus of around 101.4 million pounds.
St James's, which is 60 percent owned by Lloyds Banking Group also reported a 3.4 billion pounds increase in funds under management during the quarter, reaching a total of 20.3 billion pounds, helped by improving investor confidence and buoyant markets.
Shares in St.James's Place closed on Monday at 261 pence.

(Reporting by Chris Vellacott)

($1=.6115 Pound)

(For the Hedge Hub blog: http://blogs.reuters.com/hedgehub) (For Global Investing: http://blogs.reuters.com/globalinvesting)

((chris.vellacott@thomsonreuters.com; +44 (0) 20 7542 3987; Reuters Messaging chris.vellacott.thomsonreuters.com@reuters.net)

Keywords: STJAMES/

COPYRIGHT

Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

LONDON, Nov 3 (Reuters) - British wealth manager St James's Place on Tuesday said it has appointed a chief investment officer to oversee a push to increase its funds under management.
The company announced the appointment of Chris Ralph to the newly-created position alongside two other appointments to the investment committee as it reported third quarter new business numbers at the high end of analyst expectations.
Total new business on an annualised premium equivalent (APE) basis, was 104.6 million pounds ($171.1 million) up 3 percent from the period last year and compared with an analyst consensus of around 101.4 million pounds.
St James's, which is 60 percent owned by Lloyds Banking Group also reported a 3.4 billion pounds increase in funds under management during the quarter, reaching a total of 20.3 billion pounds, helped by improving investor confidence and buoyant markets.
Shares in St.James's Place closed on Monday at 261 pence.

(Reporting by Chris Vellacott)

($1=.6115 Pound)

(For the Hedge Hub blog: http://blogs.reuters.com/hedgehub) (For Global Investing: http://blogs.reuters.com/globalinvesting)

((chris.vellacott@thomsonreuters.com; +44 (0) 20 7542 3987; Reuters Messaging chris.vellacott.thomsonreuters.com@reuters.net)

Keywords: STJAMES/

COPYRIGHT

Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

LONDON, Nov 3 (Reuters) - St.James's Place Plc:

RNS Number : 7987B
  St. James's Place PLC
  03 November 2009
   

-1-

ST. JAMES'S PLACE plc

27 St. James's Place, London SW1A 1NR

Telephone 020 7493 8111 Facsimile 020 7493 2382

PRESS RELEASE

3 November 2009

ST. JAMES'S PLACE WEALTH MANAGEMENT

INTERIM MANAGEMENT STATEMENT

FOR THREE MONTHS TO 30 SEPTEMBER 2009 

RECORD THIRD QUARTER NEW BUSINESS 

AND FUNDS UNDER MANAGEMENT 

St. James's Place plc ("SJP"), the wealth management group, today issues its interim management statement for the three months ended 30 September 2009.

Highlights for the three months are:

New Business

*     Total new business on an APE basis of £104.6 million (2008: £101.9 million), up 3%

*     Total single investments of £834.8 million (2008: £743.8 million), up 12%

*     Manufactured new business on an APE basis of £95.7 million (2008: £85.7 million), up 12%

*     Our own manufactured business represents 91% of new business

Funds Under Management

*     Net inflow of funds under management of £600 million (2008: £500 million)

*     Continue to retain over 95% of existing clients' funds

*     Funds under management of £20.3 billion, up £3.4 billion over the three months

David Bellamy, Chief Executive, commented:

"We are very pleased that we have returned to growth in the third quarter and in particular with the strong performance in our manufactured business and the growth in investment business.

"Funds under management have exceeded £20 billion for the first time, which is a testament to the strength of the relationship between our advisers and their clients, as well as our approach to investment management.

"The strong recovery in the world stock markets and improving investor confidence, together with the continuing growth in the Partnership underpin our longer term growth target."

The details of the announcement are attached.

Enquiries:

 David Bellamy, Chief Executive        Tel:  020 7514 1963
 Andrew Croft, Group Finance Director  Tel:  020 7514 1963
 Tulchan Communications Group Ltd      Tel:  020 7353 4200
   John Sunnucks/Mal Patel

-2-

ST. JAMES'S PLACE WEALTH MANAGEMENT

NEW BUSINESS FIGURES TO 30 SEPTEMBER 2009

TOTAL LONG TERM SAVINGS

                                     Unaudited                         Unaudited
                                    3 Months to                       9 Months to
                                 30 September 2009                 30 September 2009
                                                                                            
 New PREMIUMS                  2009     2008    Change           2009       2008    Change  
                                £'m      £'m         %            £'m        £'m         %  
 New Regular Premiums                                                                       
 - Pensions                    15.8     22.8     (31%)           56.0       68.0     (18%)  
 - Protection                   5.3      4.7      13%            14.2       14.1       1%   
                                                                                            
                                                                                            
                               21.1     27.5     (23%)           70.2       82.1     (14%)  
                                                                                            
                                                                                            
 New Single Premiums                                                                        
 - Investment                 353.5    318.6      11%           934.1    1,050.2     (11%)  
 - Pensions                   280.1    282.1      (1%)          829.9      803.3       3%   
                                                                                            
                                                                                            
                              633.6    600.7       5%         1,764.0    1,853.5      (5%)  
                                                                                            
                                                                                            
 Unit Trust Sales             201.2    143.1      41%           609.5      551.4      11%   
 (including PEPs and ISAs)                                                                  
                                                                                            
                                                                                            
                                     Unaudited                         Unaudited
                                    3 Months to                       9 Months to
                                 30 September 2009                 30 September 2009
                                                                                            
                               2009     2008    Change           2009       2008    Change  
                                £'m      £'m         %            £'m        £'m         %  
 NEW BUSINESS                                                                               
 (RP + 1/10TH SP)                                                                           
                                                                                            
 Investment                    55.5     46.2      20%           154.4      160.2      (4%)  
 Pensions                      43.8     51.0     (14%)          139.0      148.3      (6%)  
 Protection                     5.3      4.7      13%            14.2       14.1       1%   
                                                                                            
                                                                                            
 Total                        104.6    101.9       3%           307.6      322.6      (5%)  
                                                                                            
                                                                                            

-3-

ST. JAMES'S PLACE WEALTH MANAGEMENT

NEW BUSINESS FIGURES TO 30 SEPTEMBER 2009

MANUFACTURED LONG TERM SAVINGS

                                     Unaudited                         Unaudited
                                    3 Months to                       9 Months to
                                 30 September 2009                 30 September 2009
                                                                                            
 New PREMIUMS                  2009     2008    Change           2009       2008    Change  
                                £'m      £'m         %            £'m        £'m         %  
 New Regular Premiums                                                                       
 - Pensions                    14.4     15.2      (5%)           46.7       44.0       6%   
 - Protection                   1.3      1.6     (19%)            3.5        5.3     (34%)  
                                                                                            
                                                                                            
                               15.7     16.8      (7%)           50.2       49.3       2%   
                                                                                            
                                                                                            
 New Single Premiums                                                                        
 - Investment                 345.6    306.5      13%           920.2      964.9      (5%)  
 - Pensions                   252.5    239.1       6%           741.8      705.5       5%   
                                                                                            
                                                                                            
                              598.1    545.6      10%         1,662.0    1,670.4      (1%)  
                                                                                            
                                                                                            
 Unit Trust Sales             201.2    143.1      41%           609.5      551.4      11%   
 (including PEPs and ISAs)                                                                  
                                                                                            
                                                                                            
                                     Unaudited                         Unaudited
                                    3 Months to                       9 Months to
                                 30 September 2009                 30 September 2009
                                                                                            
                               2009     2008    Change           2009       2008    Change  
                                £'m      £'m         %            £'m        £'m         %  
 NEW BUSINESS                                                                               
 (RP + 1/10TH SP)                                                                           
                                                                                            
 Investment                    54.7     45.0      22%           153.0      151.6       1%   
 Pensions                      39.7     39.1       2%           120.9      114.6       5%   
 Protection                     1.3      1.6     (19%)            3.5        5.3     (34%)  
                                                                                            
                                                                                            
 Total                         95.7     85.7      12%           277.4      271.5       2%   
                                                                                            
                                                                                            
                                                                                            
                                                                                            
 % of total new business        91%      84%                      90%        84%            

-4-

ST. JAMES'S PLACE WEALTH MANAGEMENT

NEW BUSINESS FIGURES TO 30 SEPTEMBER 2009

NON MANUFACTURED LONG TERM SAVINGS

*     Investment premiums of £14.0 million (2008: £85.2 million), amounting to £1.4 million (2008: £8.5 million) on an APE basis.

*     Pension single premiums of £88.1 million (2008: £97.8 million) and regular premiums of £9.3 million (2008: £24.1 million), amounting to £18.1 million (2008: £33.9 million) on an APE basis.

*     Protection business of £10.7 million regular premiums (2008: £8.7 million).

*     Total new business, on an APE basis, of £30.2 million (2008: £51.1 million).

-5-

Commentary

During the third quarter of 2009 we have seen a strong recovery in world stock markets and improving economic  conditions. This has led to improving investor sentiment and we are very pleased that our new business returned to growth during the quarter.

The level of new business combined with the continuing excellent retention of existing business resulted in a strong net inflow of funds under management for the quarter.

Review of new business

Total new business for the three months, on the APE measure, was up 3% at £104.6 million whilst the manufactured business was up 12% to £95.7 million.

The combined single investment and pension business, including unit trusts, increased by 12% during the third quarter to £834.8 million. There was particularly strong growth in investment business as clients returned to the market, with unit trust business up 41%. 

Total regular premium business declined during the quarter principally due to the inclusion of a large stakeholder scheme within the comparative figure for last year. Finally protection business, which represents a small part of our business, was up 13% during the quarter and 1% for the nine months.

Funds under management

The recovery in stock markets together with positive fund flows has led to funds under management at 30 September of £20.3 billion - up £4.0 billion (25%) since the start of the year and £3.4 billion in the last three months.

We are continuing to develop our range of funds and have recently strengthened our investment team with the appointment today of a Chief Investment Officer to lead the further development of our investment business and growth in funds under management. We have also announced the appointment of two new members of our Investment Committee. The Committee, together with advice from independent consultants, Stamford Associates, is responsible for the selection and monitoring of managers.

The table below provides an analysis of the movement in funds under management for the nine months to the end of September.

                                              Unaudited                     Unaudited
                                           9 Months to                   9 Months to 
                                      30 September 2009             30 September 2008
                                                   £'bn                          £'bn
                                                         
 Opening funds under management                   16.3                          18.2 
 New money invested                                2.4                           2.3 
 Net investment return                             2.4                          (3.0)
                                                  21.1                          17.5 
 Regular income withdrawals &                     (0.3)                         (0.3)
 maturities                                              
 Surrenders & part surrenders                     (0.5)                         (0.7)
                                                         
 Closing funds under management                   20.3                          16.5 
                                                         
 Annualised surrender rate as a                          
 % of average funds under                          3.9%                          5.2%
 management                                              
                                                         

-6-

The rise in stock markets during the third quarter has resulted in a significant positive investment variance in the three months.  The net asset value per share at 30 September 2009 on a European Embedded Value basis, was around  270 pence.

Capital

There have been no material changes to solvency capital during the third quarter.  The investment policy for non unit-linked assets remains on a prudent basis, with no exposure to equity investments; non linked liabilities are matched by government backed gilts and bonds, and surplus assets are invested in AAA rated money market funds. This policy continues to immunise the capital base from stock market volatility and corporate bond spreads.

Outlook

The strong recovery in the world stock markets and improving economic conditions are encouraging for the outlook for our business. 

These improving conditions, the strength and growth in the St. James's Place Partnership, and the increasing need for quality advice underpin our longer term growth target.

This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
IMSUUGCUGUPBGQP

St. James's Place plc (the "Company") - Voting Rights and Capital In conformity with the Disclosure and Transparency Rules, the Company's issued share capital consists of 481,681,063 ordinary 15p shares with voting rights. The Company holds nil ordinary 15p shares in Treasury. Therefore, the total number of voting rights in St. James's Place plc is 481,681,063. The above figure (481,681,063 ordinary 15p shares) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules. 2 November 2009

St. James's Place plc (the "Company")

CHANGE OF AUDITOR

St James's Place ("SJP") announces that the Board has appointed PricewaterhouseCoopers LLP ("PwC") as auditors of the Company.

Lloyds Banking Group ("LBG") acquired HBOS plc in January 2009 and at the same time acquired 60% of the share capital in SJP. In view of this, the Board has taken the decision to change auditors from KPMG LLP to PwC to harmonise the audit arrangements with LBG.

Section 520 (2) of the Companies Act 2006 requires that we notify each shareholder of the change by enclosing a copy of the statement of circumstances from KPMG. The statement has been sent to shareholders today with a covering letter from the Company.

The statement of circumstances and covering letter from the Company will shortly be available for inspection at the UK Listing Authority's Document Viewing Facility which is situated at:

Financial Services Authority 25 The North Colonnade Canary Wharf London E14 5HS Tel: 020 7066 1000

Both of the above documents are available to download on the Company's website at http://investor.sjp.co.uk/

Enquiries:

Matt Armitage Deputy Company Secretary St James's Place plc T: +44 (0)1285 878158

20 October 2009

End

St. James's Place plc (the "Company")

TR1 : NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights

are attached: St. James's Place plc 2. Reason for the notification:

Other - Disclosure of holdings following increase in share capital

3. Full name of person(s) subject to the notification obligation: Lloyds Banking Group plc
4. Full name of shareholder(s) (if different from 3): See section 9

5. Date of the transaction and date on which the threshold is crossed or

reached: 15 October 2009
6. Date on which issuer notified: 19 October 2009
7. Threshold(s) that is/are crossed or reached: Direct/indirect decrease
to below 60%
(Direct remains above 59%)

8. Notified details: A: Voting rights attached to shares

Class/ Situation previous to Resulting situation after the
type of shares the triggering transaction triggering transaction
if possible using Number of Number of Number of Number of % of
the ISIN CODE Shares Voting Rights Shares voting rights voting rights
Direct Direct Indirect Direct Indirect
Ord 15p shares 288,670,108 288,670,108 287,424,345 287,242,345 1,216,713 59.72% 0.253%
Number of voting rights Percentage of voting rights
288,641,058 59.973%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are

effectively held, if applicable:

286,418,796 shares (59.512%) are under the control of HBOS Insurance & Investment Group Limited, a

wholly owned subsidiary of HBOS plc, a wholly owned subsidiary of Lloyds Banking Group plc

(Direct interests)

10. Name of the proxy holder: N/A

11. Numbe rof voting rights proxy holder will cease to hold: N/A

12. Date on which proxy holder will ease to hold voting rights: N/A

13. Addtional information:

Notification using the Total Voting Rights figure of 481,282,925

14. Contact name:

Matt Armitage

15. Contact telephone number:

01285 878158

20 October 2009

End

Oct 16 (Reuters) - Neelie Kroes, the European Competition Commissioner whose term in office finishes at year-end, holds the fate of some of Europe's largest state-aided banks in the palm of her hand.

Here is a list of the top banks in the UK and Ireland that still await her verdict, detailing the aid they received, the measures they have taken to date and the possible payback demanded to compensate for state aid.

LLOYDS BANKING GROUP (UK):

Type of help: UK government injected 14.5 billion pounds ($23.2 billion) in capital and holds a 43 percent stake. Lloyds may insure 260 billion pounds of risky assets under the government's asset protection scheme (APS), costing 15.6 billion in non-voting "B" shares over a period of at least five years.

Status: APS details need to be finalised. Lloyds is expected to raise cash to fully or partially avoid the scheme. Any APS involvement likely to be deemed further state aid by Commission.

Possible sanctions: Commission could force Lloyds to sell businesses such as life assurer Clerical Medical, Scottish Widows or its majority stake in wealth manager St. James's Place . It might have to sell hundreds of branches, such as its Cheltenham & Gloucester network. It could be forced to reduce its market position, such as in current accounts, where it has a 30 percent share, and sell stakes in companies built up by HBOS's controversial Integrated Finance unit.

ROYAL BANK OF SCOTLAND (UK):

Type of help: UK government injected 20 billion pounds and holds a 70 percent stake. RBS plans to place 325 billion pounds of risky assets into APS, paid for with non-voting "B" shares.

Status: APS details need to be finalised. RBS wants to reduce any APS involvement with alternative financing. The bank is already dramatically shrinking its balance sheet, mainly in investment banking. It has been blocked from redeeming $1.5 billion of subordinated debt.

Possible sanctions: Commission could force RBS to sell hundreds of branches. May cap market share in small business banking. Future decisions on whether to redeem bonds will be subject to regulatory approval.

NORTHERN ROCK (UK):

Type of help: Britain provided billions of pounds in liquidity support to what was Britain's fifth biggest mortgage bank after its near collapse in October 2007. The bank was nationalised in February 2008.

Status: A formal probe was launched in April 2008. The bank has agreed to cap its share of some business areas. A modified restructuring plan was submitted in May. It will be split into two; BankCo will hold its retail deposits and most of the good assets and undertake new loans, AssetCo will hold and run-off most of the loan book. Decision could come by year-end.

Possible sanctions: Split likely to be approved, some restrictions may remain on certain business areas.

BANK OF IRELAND (IRELAND)

Type of help: Irish government injected 3.5 billion euros in return for preference shares, giving the government the right to appoint 25 percent of directors and 25 percent voting rights in respect of change of control and board appointments.

The preference shares have warrants that give the government the right to acquire a 25 percent stake in the bank after five years. The state has also guaranteed bank liabilities until at least Sept. 2010.

The National Asset Management Agency (NAMA), Ireland's "bad bank", plans to take over 15.5 billion euros of risky commercial property loans from Bank of Ireland if legislation establishing NAMA is approved as expected early next month.

Status: Restructuring plan has been submitted.

Possible sanctions: The EU could ask Ireland to cut the premium (what it refers to as "long-term economic value") it is paying over the market price of assets taken over from banks. EU Economic and Monetary Affairs Commissioner Joaquin Almunia said this month he wanted the NAMA legislation passed by parliament as soon as possible, suggesting the EU might approve it.

ANGLO IRISH BANK (IRELAND)

Type of help: The bank was nationalised in January. The state subsequently offered up to 4.0 billion euros as a capital injection. The bank was also a beneficiary of a government guarantee for bank liabilities and will transfer an estimated 28 billion euros of assets into NAMA.

Status: In-depth restructuring plan to be submitted first to Irish government and then to EU by end-November.

Possible sanctions: NAMA will leave Anglo dramatically reduced, given its earlier focus on property lending. Weakened by deposit and loan scandals, the government has been considering selling off or winding down the bank, with a preference to keeping it as a going concern to avoid a further flight from investment both in Anglo and in Ireland's sovereign debt.

As with Bank of Ireland, the EU could ask the government to increase the discount on the book value of the NAMA loans.

ALLIED IRISH BANKS (IRELAND)

Type of help: Irish government injected 3.5 billion euros in return for preference shares, giving the government right to appoint 25 percent of directors and 25 percent voting rights in respect of change of control and board appointments.

It is also covered by a state bank guarantee and is expected to transfer 24 billion euros of loans to NAMA.

Status: Restructuring plan to be submitted by end-November

Possible sanctions: Apart from a higher "haircut" on the loans given to NAMA, Allied Irish could be slimmed down through disposals it is already planning to boost its capital position.

Allied is most likely to sell its stake in U.S. bank M&T Bank Corp. It could also raise funds by selling its majority share in Poland's BZ WBK, though it has signalled that was a long-term strategic investment.

A complication would arise if Allied Irish itself became subject of a formal bid from another player: it has confirmed that it has received a preliminary approach for a stake which industry sources said came from a Canadian bank.

($1=.6259 Pound)

($1=.6710 Euro)

(Compiled by Kirstin Ridley and Steve Slater in London, Ed Taylor in Frankfurt, Boris Groendahl in Vienna, Gilbert Kreijger in Amsterdam, Phil Blenkinsop in Brussels, Andras Gergely in Dublin, Sven Nordenstam in Stockholm, Julien Ponthus in Paris; editing by Simon Jessop) Keywords: BANKS EUROPE/STATEAID UK (kirstin.ridley@thomsonreuters.com; +44 207 542 7987; Reuters Messaging: kirstin.ridley.reuters.com@reuters.net)

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By Sumeet Desai and Paul Hoskins

LONDON, Oct 15 (Reuters) - Part-nationalised British bank Lloyds needs a deal that is "demonstrably" better for taxpayers than a proposed asset insurance plan to get government backing for it, a person familiar with the matter said.
With global markets on the up, Lloyds, 43 percent owned by Britain, is considering an exit from a costly government-backed asset protection scheme (APS) to insure 260 billion pounds ($422 billion) of the bank's assets against losses from bad debts.
"The only deal that is on the table is the APS. For the government to consider other alternatives there would have to be a deal that demonstrably represented a better deal for the taxpayer," the source told Reuters on Thursday.
The source said no decisions were imminent.
To replace the scheme Lloyds would need to boost its capital by about 25 billion pounds to win the approval of Britain's financial regulator, industry sources have said.
That would likely include a rights issue of 10-15 billion pounds, sources and analysts have said. Lloyds has lined up six investment banks to run a rights issue if it gets the go ahead, people familiar with the matter said on Monday.
A key issue would be whether the government would support a massive cashcall, which would require it to spend about 6 billion pounds to prevent dilution of its stake.
Lloyds would have to pay the government cash in return for months of implicit support provided by the state since the bank said in March it planned to put assets in the APS. That fee would be above 1 billion pounds, a source said.
The government is still in talks with Lloyds over its participation in the APS, the Treasury said. "Any final agreement will have to be in the best interests of taxpayers and the stability of the financial system," the Treasury said.
The government would not underwrite a rights issue to take up shares not taken up by other investors, the Financial Times reported.
Lloyds is also considering asset sales to boost its capital and cut reliance on state support, and thereby curb any sanctions by EU regulators.
It said on Thursday it was in talks to sell its Bank of Scotland portfolio management service to British wealth manager Rathbone Brothers.
The BoS division creates and manages bespoke investment portfolios for clients with more than 100,000 pounds available to invest.

Rathbone said it was interested in private client investment management activities within Lloyds's Wealth and International division. The unit includes brands such as UK Private Banking, International Private Banking, Scottish Widows Investment Partnership and Insight Investment.
The two companies' statements made no mention of wealth manager St. James's Place in which Lloyds owns a 60 percent stake and is seen as one of a number of disposals Lloyds could make.

(Writing by Steve Slater; Editing by Hans Peters and Dan Lalor)

($1=.6157 Pound) Keywords: LLOYDS/ (paul.hoskins@reuters.com; +44 207 542 7708)

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By Sumeet Desai and Paul Hoskins

LONDON, Oct 15 (Reuters) - Part-nationalised British bank Lloyds needs a deal that is "demonstrably" better for taxpayers than a proposed asset insurance plan to get government backing for it, a person familiar with the matter said.
With global markets on the up, Lloyds, 43 percent owned by Britain, is considering an exit from a costly government-backed asset protection scheme (APS) to insure 260 billion pounds ($422 billion) of the bank's assets against losses from bad debts.
"The only deal that is on the table is the APS. For the government to consider other alternatives there would have to be a deal that demonstrably represented a better deal for the taxpayer," the source told Reuters on Thursday.
The source said no decisions were imminent.
To replace the scheme Lloyds would need to boost its capital by about 25 billion pounds to win the approval of Britain's financial regulator, industry sources have said.
That would likely include a rights issue of 10-15 billion pounds, sources and analysts have said. Lloyds has lined up six investment banks to run a rights issue if it gets the go ahead, people familiar with the matter said on Monday.
A key issue would be whether the government would support a massive cashcall, which would require it to spend about 6 billion pounds to prevent dilution of its stake.
Lloyds would have to pay the government cash in return for months of implicit support provided by the state since the bank said in March it planned to put assets in the APS. That fee would be above 1 billion pounds, a source said.
The government is still in talks with Lloyds over its participation in the APS, the Treasury said. "Any final agreement will have to be in the best interests of taxpayers and the stability of the financial system," the Treasury said.
The government would not underwrite a rights issue to take up shares not taken up by other investors, the Financial Times reported.
Lloyds is also considering asset sales to boost its capital and cut reliance on state support, and thereby curb any sanctions by EU regulators.
It said on Thursday it was in talks to sell its Bank of Scotland portfolio management service to British wealth manager Rathbone Brothers.
The BoS division creates and manages bespoke investment portfolios for clients with more than 100,000 pounds available to invest, Rathbone said.

Rathbone said it was interested in private client investment management activities within Lloyds's Wealth and International division. The unit includes brands such as UK Private Banking, International Private Banking, Scottish Widows Investment Partnership and Insight Investment.
The two companies' statements made no mention of wealth manager St. James's Place in which Lloyds owns a 60 percent stake and is seen as one of a number of disposals Lloyds could make.

(Reporting by Sumeet Desai and Paul Hoskins; Writing by Steve Slater; Editing by Hans Peters and Dan Lalor) million euros ($1=.6157 Pound) Keywords: LLOYDS/ (Tel. +44 207 542 7708)

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St. James's Place plc ("SJP")

SJP was notified on 13 October 2009 that the executive Director and Person Discharging Managerial Responsibility ("PDMR") named below exercised and sold the following shares awarded under the SJP Sharesave Share Option Scheme 2000 (the "Scheme"):

Name of Director Exercise Date No of shares Option Price Sale price
under option exercised pence per share pence per share
and sold
Andrew Croft 13 October 2009 3,831 244p 273.5p

Name of PDMR Exercise Date No of shares Option price Sale price
under option exercised pence per share pence per share
and sold
Hugh Gladman 13 October 2009 3,831 244p 273.5p

The above options were granted under the Scheme on 23 March 2006 at an option price of 244p per share and sold at 273.5p per share on 13 October 2009. The options became exercisable on 1 May 2009 and in accordance with the Scheme rules, option holders have six months in which to exercise, or they lose the right to acquire the share options and the share options lapse. The right to acquire the share options lapses on 31 October 2009.

The beneficial shareholdings of the Director and PDMR named above in the ordinary shares of SJP after this transaction are as follows:

Andrew Croft 354,249 ordinary shares Hugh Gladman 211,815 ordinary shares

This notification is made in accordance with Disclosure and Transparency Rule 3.1.4R(1) (a).

M Armitage Deputy Company Secretary St. James's Place plc Tel: 01285 878158

By Steve Slater and Daisy Ku

LONDON, Oct 9 (Reuters) - Lloyds Banking Group chief executive Eric Daniels must keep many plates spinning to keep alive his hope of launching a record rights issue, and a lack of political or regulatory support threatens to bring them all crashing down.
The partly-nationalised bank needs to raise about 25 billion pounds ($40 billion) to satisfy regulators it's strong enough if it is to opt out of a state asset protection scheme (APS), according to bankers and industry sources.
And that is a tall order, even if investors are showing a good appetite for cashcalls, leaving the most likely outcome as a revision of the terms to the APS, analysts reckon.
Daniels is pushing for a full exit from the scheme, which he regards as costly and a better deal for taxpayers than for his shareholders.
But if the bank opts out it needs to show Britain's Financial Services Authority its capital position is "bullet-proof", industry sources said.
"Lloyds obviously wants to come out of the APS altogether," said a top 15 investor in Lloyds, who asked not to be named. "The stress tests are so aggressive that's looking like an expensive option because ... they have to raise more capital than they would have liked."
That's because under APS Lloyds would be passing onto the state the risk on 260 billion pounds of toxic assets and getting a huge reduction in its risk-weighted assets. So without the APS it would need to raise enough capital to withstand potential losses on a bigger balance sheet.

Adding to the complexity of the situation is that not just Lloyds and the FSA are sitting at the negotiating table.
As a shareholder Britain's government needs to decide whether to support a cashcall and pump billions more into the bank, while the European Commission as competition regulator needs to agree on the nature and extent of whatever state aid Lloyds is going to end up with.
"There are a lot of different views on the merits of each part of the plan," said David Williams, analyst at Fox-Pitt, Kelton.
"On the FSA's mind is financial stability and whether Lloyds could risk stability; the government is worried about what's the burden on the public purse; and the European Commission is thinking about competition. It's a horrible one to get everyone to buy into," he said.
Lloyds' hopes hinge on it raising about 15 billion pounds from a rights issue and 10 billion pounds from asset sales and restructuring its debt.
The rights issue would be the world's biggest ever, surpassing a 12.9 billion pound cashcall made by HSBC in March. It would represent more than half of Lloyds' current market value.
To succeed it would need to offer shares at a discount of close to 40 percent, several bankers said. Recent bumper rights issues by BNP Paribas and Societe Generale were set at under 30 percent.
UKFI, the body holding Britain's state interests in its rescued banks, would be asked for about 6.5 billion pounds to keep its stake at 43 percent.
The decision rests with UK finance minister Alistair Darling.
"It's a political decision. And how does a government claiming the economy is recovering turn around and say we've got to put another several billion pounds into a bank?" said Simon Maughan, analyst at MF Global.
The government could opt not to participate in a rights issue, which would dilute its stake to about 25 percent but might attract new investors in to take up the slack if the discount is about 35 percent, he said.
Several bankers and investors said Whitehall support is key to underpin an offer, however. "It is a must," said one fund manager.
The Treasury would like to maintain its stake but has not made its final decision, people familiar with the matter said. Treasury coffers could also get about 1 billion pounds from Lloyds to pay for the insurance provided by the APS since March.
Where Lloyds gets its other 10 billion pounds from could be more of an issue for UK and European regulators.
Lloyds could offload its insurance operations, notably Scottish Widows and Clerical Medical, or its 60 percent stake in wealth manager St. James's Place, but may struggle to get much of a capital boost from offloading those assets at a discount to embedded value.
The sale of 164-branch Cheltenham & Gloucester may not go far enough to raise capital or appease Brussels. Which means it might have to consider a more radical option -- such as selling Bank of Scotland, said MF Global's Maughan.

($1=.6254 pounds)

(Additional reporting by Raji Menon and Sumeet Desai; Editing by Greg Mahlich) Keywords: LLOYDS/ (steve.slater@reuters.com; +44 207 542 4367; Reuters Messaging: steve.slater.reuters.com@reuters.net)

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St. James's Place plc (the "Company") - Voting Rights and Capital In conformity with the Disclosure and Transparency Rules, the Company's issued share capital consists of 480,909,833 ordinary 15p shares with voting rights. The Company holds nil ordinary 15p shares in Treasury. Therefore, the total number of voting rights in St. James's Place plc is 480,909,833. The above figure (480,909,833 ordinary 15p shares) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules. 1 October 2009

Oct 1 (Reuters) - UK Life insurers: