NewSmith Asset Management has confirmed its hire of Steve Thompson, Richard Milliken and Mark Wharrier, the UK equity specialists, who resigned from Merrill Lynch Investment Managers last year.

The firm is part of NewSmith Capital Partners, which was started in 2003 by former Merrill Lynch executives Steven Zimmerman, Paul Roy and Michael Marks. It aims to offer corporate advisory services, as well as fund management expertise. Zimmerman used to co-head Merrill Lynch Investment Management (MLIM) with Carol Galley.