Boutique hires Hermes UK equity pro

UK equity fund manager John Leahy has joined boutique firm New Capital, after previously working at Hermes Investment Management.

Leahy was head of UK equities and co-managed the Hermes UK Small and Mid Cap fund at Hermes, until he left the manager in November last year.

He will continue to run UK equity money at New Capital, and will head up the UK equity division at the manager. A new fund will be launched for him to manage.

“Launching a focused UK equity fund for the New Capital fund family is an excellent opportunity for me to leverage my expertise to benefit New Capital’s clients seeking specialist investment opportunities in the UK,” says Leahy.

Leahy had been with Hermes for 14 years, having previously worked at US equity manager G. Ullman Fund Management.

New Capital, a subsidiary of EFG Asset Management, has 10 Ucits funds and around $2.5bn (£1.6bn) in assets.

Moz Afzal, chief investment officer at EFG Asset Management, says Leahy’s appointment “will be instrumental in helping us further develop our pan European and global equity franchise”.

At Hermes David Stormont became portfolio manager for the UK small and mid cap fund alongside Hamish Galpin, who is lead portfolio manager and head of Hermes small and mid cap.