Confirming its statement in April of an imminent deal, St James's Place has acquired The Henley Group to help serve expat clients in the Asia region.

St James’s Place Wealth Management, the UK-listed firm, has acquired The Henley Group, the Asian wealth manager operating in the region for more than two decades. The deal had been flagged by SJP in late April this year. Financial terms of the transaction weren’t disclosed.

The acquisition is the first foreign deal for St James’s Place; the deal will allow this firm to serve its expatriate clients in several Asian markets, it said in a statement yesterday.

Henley has more than 50 advisors and £400 million ($679.3 million)  assets under management; it has offices in Hong Kong, Singapore and Shanghai.

“We feel the UK expatriate community in Asia offers this opportunity by working with a company that shares our values and beliefs,” David Bellamy, chief executive at St Jame’s Place, said.