Sovereign Wealth, principal partner of St James’s Place (SJP), has launched in Asia by welcoming seven existing Hong Kong-based partner practices to join the firm.

The mergers have allowed Sovereign Wealth to move into Asia. After this process the combined entity will be relaunched as Sovereign Wealth Hong Kong and will manage over £250m ($335m) from the outset.

Furthermore, it aims to enhance the experience of clients in the region, offering greater access to client-focused tech, tax and legal expertise, as well as administration support.

Justin Davies will become the managing partner for this arm.

Charles Mardon, Chief Executive Officer, Sovereign Wealth, said: “I am delighted to announce the launch of our new practice in Asia. It was the natural choice for us work with an existing and well-established team in the region who shares many of our core values in delivering the very best standards of financial advice, backed by strong relationships and built upon a foundation of trust and mutual respect. There are many exciting opportunities that this new partnership can bring to our valued clients in Asia and we are well positioned to continue our growth and success in Hong Kong.”

Oliver Wickham, Chief Executive Officer, SJP Hong Kong, added: “I’m very excited to welcome Charles and Sovereign Wealth to join our Hong Kong Partnership. This is a timely demonstration of our continued belief in the opportunity that exists in the wealth management space in Hong Kong. With clients needing and valuing professional relationship-based financial advice more than ever before. We are looking forward to working alongside Charles and the Sovereign Wealth team and have no doubt the Partnership will be a huge success.”

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