SJP shareholder 'pleased' with firm's response to critical open letter

In October, PrimeStone wrote a scathing open letter to the SJP board of directors that outlined its disappointment with the shareholder value delivered by the advice giant. The letter 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. PrimeStone said the advice giant's shares had "significantly underperformed" most of its publicly listed peers, saying its share price was down 7% since the end of 2015 and SJP's closest peers with similar asset growth trade on earnings mul...