Keith Jones, former CEO of Morley Fund Management, has joined Permira as a senior advisor to the firm’s newly-formed financial services team.
Permira, a European private equity firm, is pleased to announce the appointment of Keith Jones, former CEO of Morley Fund Management, as Senior Adviser. Mr Jones will advise Permira’s newly formed financial services team on investment opportunities in the asset and wealth management sectors.
The appointment of Mr Jones builds on Permira’s existing financial services strength, supplementing the appointments 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.
Permira believes that there is likely to be significant opportunity for Private Equity investors in the asset and wealth management sector over the coming years as major financial institutions reassess their strategy, and smaller players restructure and consolidate.
Mr Jones has outstanding experience and contacts in financial services, having held a number of senior positions during his 32 years in the industry. He 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 plc’s global asset management business, in 2000. During the following six years, Mr Jones led Morley to record results, growing the business internationally and cementing its position as a significant player in the asset management industry. Prior senior management positions included CEO of NPI Asset Management, Executive Director at Lazard Brothers & Co and Partner at James Capel & Co, the UK stockbroker.
Mr Jones has held a number of senior industry positions, including Board Member of the Association of British Insurers (ABI), Chairman of the Association’s Investment Committee and founding Chairman of the investment body’s CEO Panel. He remains a Board Member of the Investment Management Association (IMA) and has also worked as an Economic Adviser to the UK Government and as an Economic Consultant to the Henley Centre. In addition, Mr Jones serves on the Boards of Directors at Noble Group Limited, Sourcecap International and Execution Holdings Limited and holds advisory roles with Hewitt Associates and HBOS plc.
James Fraser, Head of Financial Services, commented:
“We are delighted to welcome Keith as an adviser to the financial services team. 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.”
Keith Jones added:
“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. 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.”