Ingenious Asset Management, part of the UK-based investment and advisory group Ingenious, has bolstered its team with two new senior hires.

Joining as investment director is Wayne Ellis, while Mark Doidge has been named business development manager. Ellis was previously director of private clients at Merchant Securities and Doidge was latterly regional sales manager for London and the Home Counties at Quilter.

The firm, which was founded in 2003, also said that it has now reached £1.1 billion ($1.7 billion) in assets under management, having been appointed to manage £100 million of assets through financial intermediaries over the past eighteen months.

Ingenious Asset Management is clearly aggressively chasing further inflows as the appointment of Doidge closely follows that of Ian Hunter as business development manager in May. Hunter was recruited from Sinfonia Asset Management, where he was head of sales.

The firm also recently launched a new charity service, providing risk-based investment management for charities and other similar organisations with portfolios worth between £250,000 and £5 million.