Margaret Roddan, the former head of European equities at Perpetual, has formed a company called Henl...
Margaret Roddan, the former head of European equities at Perpetual, has formed a company called Henley Asset Management.
Roddan is listed as sole director of the business, which is named to evoke the contrarian, non-City of London image of Perpetual during its halcyon days in the late 80s and early 90s.
The move comes as speculation continues on how long Invesco Perpetual will be able to hold on to a number of the Henley-based, former Perpetual fund managers, many of whom will be renegotiating their contracts in the months of February and March.
Investment Week has spoken to Invesco Perpetual's Henley-based managers, who all deny they are looking to join Roddan's venture, so creating a Perpetual mark-two-style company.
UK equity income manager Neil Woodford, UK growth manager Stephen Whittaker, fixed interest manager Paul Causer, Japan manager Paul Chesson, Far East manager Katherine Langridge and UK smaller companies manager Mark Niznik, all deny they are linked to the company.
Roddan, who is currently unattached to any known investment firm, herself declined to comment on the start-up company, which was registered on 11 September and set up by SLC Registrars, which remains as nominated company secretary.
The company is not, however, the only business listed under the Henley name at Companies House. A second company, Henley Investments Limited, was listed on 4 December 2000, following closely on the heels of the deal that saw Amvescap buy up Perpetual.
Mystery surrounds this second company and who set it up. It was incorporated by New Bond Street-based business services group, The 4 Business Group, which stepped down a week later as nominated secretary and director. Currently, the company has a Bahamas-based secretary but no directors.
According to Companies House, unless that is remedied, under its rules, the company will eventually be struck off its lists. Having been without a director for almost 13 months, one possibility is that whatever use the company was intended for no longer has merit.
Multi-millionaire Martin Arbib, founder of Perpetual in 1973, owns extensive property in the Bahamas. Mike Webb, head of Invesco Perpetual's retail business and Invesco Perpetual board member and former Perpetual Plc deputy chairman, Roger Cornick, both said Arbib, who was not available to comment, was not set for a return to the fund management industry.
Arbib, Investment Week understands, a man listed in The Times list of the 1,000 richest people in Britain in 1998, 1999, 2000 and 2001, is, however, exercising his right to buy the Rectory, the waterfront building where Perpetual first started out in Henley.
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