St James’s Place’s Singapore business has gained a license allowing it to operate discretionary portfolios for its clients, in what the business described as a “significant milestone”.

St James’s Place Singapore, a subsidiary of SJP Asia, has been granted a Capital Markets Services (CMS) licence by the Monetary Authority of Singapore.

With the licence, SJP Asia, through the Singapore business, will be able to operate discretionary accounts on behalf of its clients under the St James’s Place Discretionary Portfolio Service.

According to the firm’s results for the six months to 30 June 2019, the fi...