SJP confirmed for FTSE 100 entry later this month

St James's Place will enter the FTSE 100 index following the departure of engineering consultancy Amec and agribusiness Tate and Lyle.

The FTSE Group has confirmed the changes to the index today as part of a quarterly review that will take effect from 24 March. Barratt Developments will join St James's Place in the index after Amec and Tate and Lyle drop down to the FTSE 250. SJP recently reported operating profits of £462.7m for 2013, up 26% on the previous year, during a period in which it said it added 45,000 new clients.  The vertically integrated wealth manager has since confirmed it is nearing the acquisition of one of the largest privately-owned IFA firms in the Asia region, in what chief executive David Be...