SJP receives scathing open letter from shareholder criticising 'bloated organisational structure' and 'excessive pay'

The letter, which was written by PrimeStone managing partner Benoit Colas and partner Damien Hahnloser, urged the board of directors at SJP to discuss the proposal outlined by the pair at their next meeting, and to launch a cost review and optimisation project immediately. They said: "Despite the exceptionally strong and consistent compounding of advisers, clients and assets, SJP has unfortunately fallen short of delivering meaningful shareholder value over the last five years." PrimeStone said the advice giant's shares have "significantly underperformed" those of most of its publicly...