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View the article online at http://citywire.co.uk/wealth-manager/article/a730971

Saracens chairman Wray takes 'significant' stake in Nutmeg

by Danielle Levy on Jan 29, 2014 at 07:45

Saracens chairman Wray takes 'significant' stake in Nutmeg

Nigel Wray, the serial entrepreneur and chairman of Saracens rugby club, has taken a 'significant' stake in low cost discretionary manager Nutmeg.

Nick Hungerford (pictured), CEO and co-founder of Nutmeg, said Wray had made a multi-million pound investment in the business and comes on board as a major shareholder. He added that the company is looking forward to capitalising on Wray's broad experience of building, expanding and managing financial services businesses.

'He is one of the UK's most successful entrepreneurs and has vast experience across different global markets. His record as a leader and investor is second to none and his passion for the customer experience is completely aligned with mine and that of Nutmeg,' he said.

Alongside Wray's involvement with Saracens rugby club, he has also held directorships and significant shareholdings in companies, such as Domino’s Pizza, Singer & Friedlander and Carlton Communications, alongside a number of non-executive positions, for example in People's Phone Company.

Wray said: 'It’s great to join the team of people already at Nutmeg. The company has enjoyed a lot of success and I am convinced that with the vision, passion and culture of Nutmeg, we will continue to grow the business in line with ambitious plans. Nutmeg is like no other investment company I have seen.'

He is not the only well known name to back the low cost online investment firm. He sits alongside British economist John Kay and former President of T. Rowe Price International, R Todd Ruppert. Also on board are Klaus Hommels, a venture capitalist heavily involved in the development of Skype, Facebook and Zing, Swiss tech-entrepreneur Daniel Aegerter, and Tim Draper, who has been integral to the growth of Hotmail, Baidu and Overture.

Nigel joins Nutmeg with an impressive track record of investing in and developing successful organisations across a range of sectors, particularly the investment, property, fund, media and sport industries.

1 comment so far. Why not have your say?

Anonymous 1 needed this 'off the record'

Jan 29, 2014 at 12:19

What is the definition of a 'significant' investment by Mr Wray?

Given that Nutmeg appears to have lost £1.8m on a £2k turnover in 2012, would it be interesting to know how much cash there is today after this latest injection?

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