Woodford Investment Management (Woodford IM), founded by fund manager Neil Woodford, has confirmed the departure of two senior executives less than a year after its launch.
Nick Hamilton, Woodford Investment Management’s COO, and Gray Smith, the chief legal and compliance officer are set to leave the firm this month.
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The departures follow the appointment of Simon Osborne as head of compliance and Gavin St. John-Heath as chief risk and operations officer.
Hamilton joined Woodford from Colonial First State in Sydney. Prior to this, he worked for nine years at Invesco as head of global equity products. Prior to joining Woodford, Smith worked in at several fund services companies such as Appleby, Maples and Ogier.
The firm said that infrastructure has evolved commensurate to its goal of building a fund management company with an operational platform fit for a regulation-heavy environment, reported Sky News.
The firm said: "Over the past six months chief executive Craig Newman and Neil Woodford have assembled a team of more than 30 experienced individuals, who share the long-term vision to create a firm based on transparency and openness."
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By GlobalDataCraig Newman, CEO of Woodford Investment Management, said: "As our business continues to grow, the demands placed on our legal and compliance operation will intensify. We have brought in experienced specialists to help implement procedures, which will cement our goal of building a fund management company that has the cutting-edge operational platform needed in a regulation-heavy, post-financial crisis world."
