St James’s Place (SJP) chief operating officer Jonathan McMahon has stepped down from his role.

Mr McMahon becomes the chairman of Harvest Financial Services, which SJP acquired in February, where he will continue to “support its integration” into the main firm.

“This is very much a personal decision based on Jonathan’s desired longer-term plans and we wish him well for the future,” a spokesperson for SJP said.

Mr McMahon has worked for SJP for six years.

He wrote on LinkedIn: “After nearly six fantastic years at SJP (and what will be nearly seven when I actually step down), I’ve deci...