Nick Hooper a 13-year veteran of wealth management company Credo Wealth has quit the business to launch his own firm.
The firm, London Investment Management, will aim to cater for family offices and professional clients.
Hooper told Wealth Manager that the business is set to launch later this month – having received its Financial Conduct Authority (FCA) authorisation in September.
He added, after such a long time at Credo, he felt it was time to set up a business of his own and noted that London Investment Management has already had interest from a number of family offices in England, Scotland and Norway.
He will provide a bespoke portfolio management service for clients with a focus on UK equities as well as carrying out research around initial public offerings (IPO).
However, Hooper added that he intends to grow the firm and begin recruiting new personnel with other specialities shortly after launch. Before leaving to set up his firm he was a senior portfolio manager at Credo.
Hooper started his career managing private wealth at Townsley & Co as a broker. He then became a director at Teather & Greenwood where he was responsible for a team of private client brokers, before moving on to JM Finn.
In this new venture, Mark Hudson, who has 10 years’ investment experience including a stint Credit Agricole, will join Hooper and will act as a dealer for London Investment Management.
The firm will use Jarvis Investment Management to provide some of its back office functions.
Hooper’s company is the latest in a string of new wealth launches.
Last month two former Wealth Manager cover stars launched new firms. Alec Stewart, who was previously chief executive officer of Anderson Strathern Asset Management, set up Stewart Asset Management, based in Glasgow, and Rupert Caldecott also bought out the wealth management half of Dalton Strategic Partnership to form a new firm, RM Caldecott & Partners.
Also in October, a group of ex-Charles Stanley managers established their own firm GPIM. Earlier in the summer, former Rathbones investment director James Maltin returned to the wealth management industry with the launch of a boutique called Ridgeway Investment Management.