The Financial Conduct Authority (FCA) has authorised Woodford Investment Management.
According to the FCA, Woodford Investment Management may now control but not hold client money and assets.
The FCA authorisation also lists the full list of individuals tied to the firm for the first time. Citywire A-rated Neil Woodford is a partner and is CF30 approved, with Paul Lamacraft and Stephen Lamacraft - whose recruitment was revealed yesterday - both holding the CF30 designation there too.
Other known recruits Gray Smith, Nicolas Hamilton and Craig Newman are partners as well.
Two non-executive directors have also been identified: Mary Reilly, a former audit partner at Deloitte where she was also head of charities; and Martin Walton, chief executive of life-sciences specialist Excalibur Fund Managers.
Walton is responsible for Excalibur’s investment and business activities, having joined the company in 2011 after a 25-year career as an investment banker and investor in medical and other sectors.
He has run private-equity portfolios and hedge funds with assets in excess of £4 billion, and also worked extensively with sovereign wealth funds.
Reilly is additionally a non-executive member of the Department for Transport’s board, and was previously chair of the London Development Agency and sat on the board of the London Organising Committee of the Olympic and Paralympic Games.
Meanwhile an individual named Paul Green holds the firm’s CF28 systems and controls approval.