Neil Woodford Builds Oakley Venture With Latest Ex-Invesco Hire

Jan 21, 2014 5:55 am ET

Jan. 21 (Bloomberg) -- Neil Woodford tapped a second former Invesco Perpetual colleague to help run his planned U.K. venture with Oakley Capital Management Ltd.

Nick Hamilton will join Oakley Capital as chief operating officer of the retail asset-management business, according to an e-mailed statement from the London-based company today. Craig Newman, Invesco Perpetual’s former head of sales, joined as Oakley Capital’s head of retail asset management in November, according to his LinkedIn page.

Hamilton will return to the U.K. from Australia, where he was head of institutional business at Colonial First State in Sydney. Before that, he spent nine years at Invesco as head of global equity products, working with Woodford, whose planned departure from Invesco Ltd. wiped almost $1 billion off the company’s market value when it was announced last year.

“Nick shares our vision of building a market-leading asset-management business of the future,” Newman said in the statement. He “brings a wealth of experience in growing assets, building businesses and leading teams.”

Oakley, founded by entrepreneur Peter Dubens, announced last year that Woodford would join his firm, managing money for retail and institutional clients from the company’s offices in London. Woodford, 53, is still overseeing about 33 billion pounds ($54 billion) for Invesco Perpetual, and officially joins Oakley in May.

Invesco, the Atlanta-based manager of more than $767 billion, has a 64 percent stake in Oakley’s Bermuda-based investment company that trades on London’s Alternative Investment Market, according to the latest data compiled by Bloomberg. Oakley Capital oversees about 1 billion pounds in assets and supports businesses including Oakley Capital Private Equity, an investor in Time Out magazine.

--Editors: Keith Campbell, Steve Bailey