Weatherbys Brings In Former SJP Chief Executive As New Chairman

Tom Burroughes

19 December 2017

speaks volumes for his ability, where, over the course of 11 years as chief executive, funds under management more than quadrupled to over £85 billion ($113.5 billion).”

Johnny Weatherby continues as a non-executive director at the firm. The bank, which is a seventh-generation institution tracing its origins to the early days of UK horse racing in the 1770s, has pushed beyond that sector to develop a private banking offering serving clients from a variety of fields.

Bellamy was granted a lifetime achievement award at the WealthBriefing European Awards this year.

While presiding over rapid growth at SJP, it has not been plain sailing at times, however. There was controversy around the firm during the summer; Bellamy defended the UK-listed group's reputation after an undercover probe by Which? Magazine unveiled alleged malpractice among some of its advisors. The publication said some advisors had failed to comply with transparency rules on the disclosure of charges. Bellamy said the firm offered value-for-money services. SJP, once part of the Lloyds Banking Group but now a listed, standalone business, has seen its AuM grow rapidly to become one of the more prominent wealth players in the UK, and has recently pushed into Asia.

Weatherbys has, meanwhile, made changes at its private banking business, naming Qentin Marshall as the private bank CEO in July, taking over from Adrian Crichton, who retired after being at the bank for 11 years. Marshall joined Weatherbys in 2015, having previously worked at Coutts and, prior to that, at UBS, where he helped to create the UBS family office group. (This publication recently interviewed Marshall about his strategy.) Late in November, Weatherbys Private Bank, part of the group, appointed Henry Taylor as an associated director, reporting to Marshall. Taylor joined from Lloyds Banking Group.