James Hay Partnership is a provider of financial services products in the UK with headquarters in Salisbury. The company is best known for administering Self Invested Personal Pensions (SIPPs) introduced in the Finance Act 1989[1] by the UK Chancellor of the Exchequer, Nigel Lawson in his commons speech.
 | |
| Industry | financial |
|---|---|
| Founded | 1979 |
| Founder | James Hay |
| Headquarters | Salisbury, England |
Area served | United Kingdom |
| Website | www |
History edit
James Hay was founded in 1979 and incorporated in 1990 before becoming part of Abbey National (now Santander UK) in 1994. In 2010, Santander sold James Hay to its current parent, the IFG Group PLC, for a reported £35m.[2]
James Hay became the largest provider of SIPPs in the UK during 2001 following a dramatic period of growth in the demand for these flexible pension products.[3] James Hay performed the trustee administration for a number of insurance companies who offer SIPPs to their customers who are often introduced via IFAs (Independent Financial Advisers). In 2014 James Hay evolved its SIPP to include other non-pension wrappers such as general investment accounts (GIAs) and individual savings accounts (ISAs). The IFG Group owned several Adviser companies including London-based Saunderson House. In March 2014 IFG Group sold a number of these companies in order to focus on the James Hay and Saunderson House business units.[4]
James Hay won the MoneyAge SIPP Provider of The Year award in 2020 [5]
Operations edit
The company's parent, the IFG Group, was listed on the London Stock Exchange[6] but was sold to private equity house Epiris for £206m in 2019[7]
James Hay Partnership has headquarters in Salisbury where it employs around 500 staff. It also has offices in London and Bristol. Overall it employs around 600 people in the UK.[8]
References edit
- ^ Finance Act 1989
- ^ IFG Buy James Hay from Santander, Money Marketing, March 2011
- ^ "James Hay sees Sipp market share grow to 37 per cent | News". Money Marketing. Retrieved 2014-06-12.
- ^ IFG Group Sells Adviser Arm, Citywire, March 2104
- ^ SIPP Provider of The Year - MoneyAge Awards 2020
- ^ "IFG Group listed on London Stock Exchange, March 2011". Archived from the original on 2014-05-08. Retrieved 2014-01-29.
- ^ "James Hay parent sold to private equity house". FTAdviser.
- ^ LinkedIn Company Profile