The former head of Liontrust, who left the asset manager a year ago after high-profile departures caused its funds under management to plummet, has re-emerged with a new investment boutique.

Nigel Legge helped launch Liontrust in 1994 but left last May after a difficult period for the group. Liontrust's former star managers Jeremy Lang and Bill Pattisson announced in Januray 2009 that they would be leaving to launch their own boutique. Their departure's caused Liontrust's assets, 90% of which they managed, to fall dramatically.