Woodford Investment Management has been hit by the departure of two senior executives.
Chief operating officer Nick Hamilton and chief legal and compliance officer Gray Smith are leaving the investment firm set up by fund manager Neil Woodford.
In a statement, Woodford IM says Hamilton and Smith will leave the firm this month.
The business was set up earlier this year when Woodford left Invesco Perpetual after 25 years, and has £8.5bn assets under management.
Woodford IM chief executive Craig Newman says: “Nick and Gray helped us get over the line. We thank them for their commitment and wish them all the best in the future.”
Hamilton and Smith helped establish Woodford IM, with Hamilton having previously worked for Invesco Perpetual as head of global equity products.
Woodford IM has appointed a new head of operations, James Newman, who joined the firm this week.
Newman joins from Egerton Capital where he was head of fund operations. He has 17 years’ experience in the investment industry, having previously worked at Pictet Asset Management and Genesis Investment Management.