Hector Kilpatrick to take up new post as Cornelian expands

CORNELIAN Asset Managers is to expand its investment businesses after recruiting another big name to its ranks.

The Edinburgh-based firm is today set to name Hector Kilpatrick – who ran the successful UK Alpha Fund at rival Scottish Value Management (SVM) – as its newly-created chief investment officer.

Kilpatrick, who will join the firm in July, will be responsible for investment research and managing Cornelian's collective funds.

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It is understood that the firm – which was spun off from investment bank Noble Group in 2000 – is on the verge of launching a series of new funds. Cornelian chief executive Jeremy Richardson, a former Scottish rugby player, said: "We are delighted to have secured someone of Hector Kilpatrick's calibre. Hector's recruitment is a key part of our strategy to prepare for the next phase of our growth."

Funds under management have grown from 40 million in 2000 to 390m on 31 March.

Kilpatrick's arrival follows a raft of high-profile appointments since the firm broke away from Noble Group.

Head of charities June Jessop joined in 2006 from Adam & Co, while chief operating officer John Jackson arrived from National Australia Group in 2005 and BlackRock director Richard Alexander joined last year.