St James's Place, the UK listed wealth manager, plans to axe 200 jobs following an almost 40% drop in pre-tax profits last year.

In final results published on 25 February, SJP reported a pre-tax profit of £426.4m for 2020, down from £708.9m at the end of the previous year. However, funds under management rose during the period to £129.3bn, a 10.5% increase from the end of 2019.