Spencer House Capital Management, the investment boutique set up last year by Richard Horlick and Lord Rothschild, has hired three people, taking its tally of staff to 18.

Nigel Gurney has joined Spencer House as financial officer from Invicta Investment Management, a hedge fund management boutique he left in March, according to the UK Financial Services Authority register. He had previously worked at Orn Capital, the hedge fund group bought by Morley Fund Management last year.