Nicholls joins from AAC Capital Partners (latterly known as ABN AMRO Capital), where she served as UK origination director developing new private equity relationships with key clients. She previously spent a decade at Legal & General Ventures as a director responsible for all aspects of investment activity, including portfolio management.

Nicholls is now based in Heartwood’s Tunbridge Wells office, reporting to Gary Rogerson, director of the client services division.

Back in March Heartwood launched a separate division for its investment management operations, a decision which it says was based on its growth.  The firm said its total assets under management and administration have grown from just over £800 million (about $1.3 billion) in 2007 to more than £1.3 billion. The new division is led by chief investment officer Noland Carter.