2025-12-03
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Hello and welcome to Big Boss Interview.
Sean Farrington is with me and Sean,
you've been speaking to Mark Fitzpatrick, the CEO of St James's Place.
Yes, very interesting person to speak to,
partly because St James's Place are an investment group that have more than £200 billion of people's money under their watch that they are investing.
So, unsurprisingly, he has many thoughts on what should be happening with that money,
what his potential customers his customers he had should be thinking about doing with their money and all the things going on in the world that can influence that whether it was from the budget some interest really interesting stuff he had to say about what the speculation in the run up to the budget not just this year but last year as well the impact that has had on major decisions people are taking with their pensions that was fascinating to hear that but also right across the board like why is it in the UK we're just not up
for investing our cash the way say Americans are we we don't like to talk about doing that kind of thing with our money in a way that many others around the world like to do we're much more risk averse we got into some of the reasons behind that we had a bit of a debate at times about some of the reasons behind that as well.
There was plenty for us to get stuck into.
We're used to dealing with some big numbers on this team,
but 200 billion quid is a pretty big number no matter which way you're looking at it.
Did you address the elephant in the room, though, with St James's Place?
Yeah, well, it didn't feel like an elephant in the room, actually.
This is the concerns that many had about St James's Place for quite a few years,
about its level of its fees, what St James's Place was doing with that money.
The regulator ended up getting involved and, along with changes right across the industry,
St James's Place, having to make some pretty big changes.
Mark Fitzpatrick came in effectively to carry out a lot of those changes.