Copia Capital Management has hired Robert Vaudry as managing director and Tony Hicks as an investment specialist as it seeks to achieve a “sound footing” in preparation for further business growth, Investment Week can reveal.
In his new role, Vaudry will report to Novia CEO Bill Vasilieff, who described him as a "very senior and well-respected individual", the appointment of whom reflects "the growing scale and success of Copia".
Vaudry pointed to three key elements that attracted him to the position, including the use of a quant risk model, which provides "an unemotional benchmark to set the ground rules about decisions on investing", the "innovation" within the firm, including its custom and retirement portfolios, and the cost of the services provided.
"Copia are priced sensibly for the service they provide, and other firms are going to have to readjust to come down to the sort of level of costs that Copia and some others are bringing to the market."
Vaudry joins the firm from Wesleyan Assurance Society, where he served as chief investment officer, and Wesleyan Unit Trust Managers as chief executive officer, having held previous roles with Morgan Stanley, HSBC and Quotidian Investments.
The appointment of Hicks marks the first "dedicated salesperson" at the firm, with another due "quite soon", according to Vasilieff. Hicks joins Copia from The Beaufort Group, where he served as group head of sales, having held previous roles with JO Hambro Capital Management and Aberdeen Asset Management.
Hoshang Daroga has also been promoted to senior portfolio manager, having joined the firm in 2015 from LSV Asset Management.
Vaudry said: "I am delighted to be joining the team at Copia, whose pioneering investment solutions are making such a big difference for clients and I would like to extend my congratulations to both Hoshang and Tony on their new roles."
Vasilieff added: "We owe an enormous debt of gratitude to Henry Cobbe whom I would like to personally thank for seeing us through the previous phase of development.
"These new appointments and the expansion of the sales and management teams will position Copia well for our next phase. They will also ensure the business remains at the forefront of innovative product development when it comes to tackling the investment and retirement challenges affecting advisers."