Universal Music U.K. Chairman/CEO David Joseph has announced the launch of Capitol Records U.K., the latest step in the rebuilding and rebranding of the iconic label as part of Lucian Grainge’s worldwide strategy. The new label will be led by Nick Raphael as President, reporting to Joseph. Raphael will work closely with Capitol Music Group ruler Steve Barnett; the two execs first worked together 12 years ago at Sony Music. Raphael’s current team at London Records, including SVP A&R Jo Charrington and Head of Marketing Tom Paul, are all moving to the new setup, which will be based in premises outside Universal’s Kensington High St. HQ. The Capitol U.K. team will be expanding over the coming weeks, with the label set to handle a repertoire stream from the U.S. The launch marks the first time Capitol has had a stand-alone presence in Britain. “For us to work with Capitol is an honour [check the fancy spelling] and a tremendous opportunity,” says Joseph in today’s announcement. “It’s a label with an incredible pas,t but what the new team are doing promises a huge amount for the future. Here in the U.K., the same can be said for what Nick’s leadership can do for the label, with Capitol joining Virgin EMI, Island, Polydor and Decca to complete our lineup of frontline labels.” Adds Raphael: “When David approached me to run Capitol Records in the U.K., I jumped at the opportunity to run a legendary label with an incredible roster and the chance to work with Steve Barnett again. By the way, has anyone else noticed how phallic the Capitol logo looks? Just asking.” [HitsDailyDouble]