Concern among investors peaked in March when the group was forced to book a £426m provision and cut its dividend to pay for refunds to customers over advice failings.
Mr FitzPatrick, who took over in December, said Tuesday’s jump showed that the group has turned a corner, even though shares are still 60pc below their 2022 peak.
He said: “Despite all of the negativity and the dark clouds that we have had over the last 12 months – and the last 12 months have been very difficult for brand reputation – we have seen a phenomenal performance by the business.
“Clients are sticky and they really get on well with their advisors. In uncertain times, that’s when you need advice and that’s what we’re there for.”
Mr Fitzpatrick plans to double the £400m or so of underlying cash that SJP generates every year.
To trim costs, he will reduce spending on consultants and use more automation for its back-office work.
Job losses are also expected but the group refused to provide any detail.
Its latest financials revealed net inflows of £1.9bn in the first half, which was above analysts expectations of £1.3bn. This was alongside profits of £205.2m.