St James's founder to retire

Mike Wilson, one of the founders of St James's Place, is to step down as chairman of the financial services group at the end of the year. Charles Gregson, the chairman of Icap and CPP group, will replace him.

Mr Wilson, who set up the group alongside Sir Mark Weinberg and Lord Rothschild 20 years ago, will become life president of St James's Place when he retires at the end of December. He will maintain ties to the group after his appointment as chairman of the group's charity arm, the St James's Place Foundation.

St James posted sales of £157m in the first quarter, up almost a fifth year on year.