Chris Teschmacher has been appointed director of the CIO Office at wealth manager St James’s Place, serving as a link between the wealth manager’s investment team and its adviser partners.
He joins from Legal & General Asset Management where he was a fund manager and head of the asset allocation investment specialist team.
Other previous roles include six years at HSBC Global Asset Management where he was a hedge fund and multi-asset product specialist.
Mr Teschmacher will work closely with CIO Justin Onuekwusi to help lead the development of SJP’s investment business, supporting governance, investment processes and the continued evolution of the firm’s investment proposition.
He previously worked with Mr Onuekwusi at L&G where they were both part of the multi-asset team for eight years. Mr Onuekwusi left L&G to join SJP in October 2023.
Mr Teschmacher said: “After 11 years at L&G, I’m proud of what I’ve achieved and excited to start a new chapter with SJP. The firm has a distinctive investment approach, a strong focus on client outcomes and clear ambitions for the future.”
Net inflows for St James’s Place (SJP) fell 10% to £1.53bn in the first quarter (Q1 2025: £1.69bn) after the wealth manager was impacted by a decline in global markets. Gross inflows rose 3% to £5.3bn (Q1 2025: £5.14bn).
Closing funds under management for the quarter were £216.94bn, a rise of 15% year-on-year (31 March 2025: £188.59bn), but a fall of 1% from £220bn as at 31 December 2025.
The company continues to set aside large sums for its review of previous business. SJP said that its historic ongoing service evidence (OSE) review was “progressing at pace” and there was an £18.7m post-tax additional release from the OSE provision at year-end, bringing the total released during 2025 to £82.1 million. It anticipates completing the review this year.