European private equity firm Permira has hired former Morley Fund Management CEO Keith Jones as senior advisor. In his new role, Jones will advise Permira’s new financial services team on investment opportunities in the asset and wealth management sectors.
The appointment supplements the firm’s recent addition of James Fraser as head of financial services, John Coyle as co-head of the New York office and Dan Healy as senior adviser. Permira now has 11 professionals focusing on three sub-sectors: asset and wealth management, general insurance and the financial infrastructure and services sectors.
Previously, Jones joined Norwich Union Investment Management as CEO in 1999 and was responsible for the merger and integration of the asset management arms of CGU and Norwich Union, becoming chief executive of Morley Fund Management, Aviva’s global asset management business, in 2000.
Prior to this he held positions including CEO of NPI Asset Management, executive director at Lazard Brothers & Co and partner at UK stockbroker James Capel & Co.
“We are delighted to welcome Keith as an adviser to the financial services team,” says James Fraser, head of financial services. “Keith brings extensive experience in the wealth and asset management industries, areas where we see attractive investment opportunities. With Keith’s appointment we now have a complete financial services team in place and ready to capture such opportunities.”
Permira believes there will be opportunities for private equity investors in the asset and wealth management sector as major financial institutions reassess their strategy, and smaller players restructure and consolidate.
“Permira is a leading private equity firm with an outstanding track record, and I look forward to sharing my experience of and contacts in the industry with the excellent financial services team they have been building over the last 12 months,” says Jones. “The current economic climate presents a range of opportunities in asset management, and I am delighted to be able to work with James and the team to turn these into successful investments.”
D.C.