Invesco Perpetual’s UK equity product directors William Deer and Mitchell Fraser-Jones are to quit the firm to pursue further opportunities.

The departure comes after the firm’s investments head Neil Woodford said he would leave the firm in April 2014 to set up his own fund management company.

The duo are expected to work with Woodford at his new venture but it is yet to be confirmed.

Fraser-Jones has joined Invesco Perpetual in 2002 as a senior marketing specialist. Prior to this, he has worked at Singer & Friedlander Portfolio Management as an assistant portfolio manager.

Deer has joined Invesco Perpetual in 2006 and earlier to this he was employed with HSBC and ABN Amro as an equity analyst and as a pan-European equity salesman.

The responsibilities of the two men will be taken up by the wider UK equities team at Invesco Perpetual.

Nick Mustoe, Invesco Perpetual’s chief investment officer, said: "On behalf of the Invesco Perpetual team, I would like to thank them both for the tremendous work they have done. We wish them the very best for their futures."