Gresham House has made a double intermediaries sales hire from BNP Paribas Asset Management on the back of bumper H1 results in which its income more than trebled.
Mike Woolley (pictured) will responsible for pushing Ken Wotton’s UK Micro Cap and UK Multi-Cap Income funds, which Gresham acquired from Livingbridge in November 2018.
Woolley had been head of external distribution for the UK at BNP Paribas AM since early 2015. He has previously worked at EFG Asset Management, Neptune, Prudential and Standard Life.
Andy Gibb was responsible for UK business development at BNP Paribas AM.
Previously, Gibb was previously at BNY Mellon Investment and Skandia Investment Management.
He described Gresham House as “one of the most rapidly growing firms in the alternatives space”.
Gresham House Asset Management managing director Rupert Robinson said the duo would build on progress made in the business over the last 18 months. “Their appointments represent a major commitment by the group to strengthening our presence in this area by offering differentiated and high-performing specialist funds,” Robinson said.
Gresham income rises 209% in H1
Gresham House income rose 209% for H1 2019 hitting £15.3m, according to results published the same day as the sales hires were announced.
Assets under management are now £2.5bn.
It also revealed £36.3m on the balance sheet can be deployed into new opportunities.
Chief executive Tony Dalwood said: “Our focus on alternative asset management remains increasingly of interest as allocations to these areas continue to build. Alongside revenues, the Gresham House brand is growing, and we are increasingly well-placed for the important shift towards ESG and sustainable investment.”
Dalwood added: “We have made significant progress developing our platform, including enhanced capability within sales and distribution, in order to scale in the future whilst looking at international opportunities in a post-Brexit world.”
