Bill Winters, formerly the co-chief executive of JP Morgan Investment Bank, has started a new asset management company backed by RIT Capital Partners plc, a U.K. investment trust, and Reinet Investments SCA, a Luxembourg investment vehicle.

The new company, Renshaw Bay, is half owned by Winters, who is the chief executive and chairman; RIT and Reinet own the balance. The business will advise established funds and new investment companies. It may also create or acquire its own investment management capabilities.

Winters left JPMorgan in 2009 after Jes Staley was named the sole chief executive of investment banking.

“Our objective is to build a global alternative asset management and advisory business that provides outstanding and differentiated investment opportunities for our founding shareholders as well as other sophisticated investors who value our strong focus on risk management and alignment between investors and investment managers," Winters said in a statement.

Winters will also become a non-executive director of RIT Capital Partners.