Invesco Perpetual star Woodford to join Oakley Capital Management

LONDON Thu Dec 19, 2013 4:13am EST

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LONDON Dec 19 (Reuters) - London-based investment firm Oakley Capital Management said Neil Woodford, the 25 year veteran fund manager at Invesco Perpetual, will join the firm in May.

Woodford, will create an asset management business after joining Oakley, the firm said in a statement on Thursday.

"We will fully support the transition and in the meantime we will provide an environment in which Neil can have the autonomy and flexibility to best serve the interests of clients," said Peter Dubens, director at Oakley Capital.

Woodford is one of the investment industry's most closely watched fund managers and directly manages around 30 billion pounds of assets for Invesco Perpetual.

He announced in October he would leave the firm at the end of April and be replaced by Mark Barnett as the firm's head of UK equities.

Oakley is an asset management and financial advisory group managing around $1 billion in assets.

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