Susan A. Douse joined Grail Partners as a partner and the head of the advisory merchant bank's new London office, according to a statement released by Grail. Ms. Douse said in an interview she plans to hire two more executives this year, but that the firm — which also has offices in Boston, London, New York and San Francisco — will remain a small, nimble niche player focused on the investment management industry. Donald H. Putnam, who co-founded Putnam Lovell NBF Securities in 1987, left that company to set up Grail Partners in February. Ms. Douse was global head of product management and consultant relations at Schroders. Schroders spokesman Richard King said Ms. Douse will not be replaced, reflecting a change in the firm's strategy whereby consultant relations will be managed by regional executives.